Inheritance tax is a tax on the value of someone’s property, money, and belongings after they pass away before it is given to their heirs or beneficiaries.
Currently, these industries pay a 10% tax on their income and a 2% advance income tax (AIT) on the import of machinery, parts, and equipment, which was supposed to remain in effect until 2032 ...
There are limits as to how much you can contribute and for income thresholds for individual retirement accounts. For 2024 and 2025, you can contribute $7,000.