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the level of inheritance tax in Korea

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the level of inheritance tax in Korea

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(1)With the elimination of inheritance tax, tax revenues should increase and the opportunity to raise more households after the economic recovery
(2)Input 20230622 AM 511 Article text
(3)Reporter Lee Jieun, TALK
(4)a family of one street
(5)Special report written with experts 황 Hwang Seung-yeon, honorary professor of Kyung Hee University, is likely to follow in the footsteps of Lock & Lock and Hanssem Korea, who gave up inheritance.”
(6)If stock prices rise, tax increases. Korea’s discount is cited as the reason
(7)Half of OECD member countries are not operating inheritance taxes
(8)Payment of corporate tax and income tax during taxation like capital gains tax in the future
(9)Hwang Seung-yeon, honorary professor of sociology at Kyung Hee University, summarized the representative of the Inheritance Tax Reform Forum = Reporter Lee Ji-eun, Sweden’s economy revived after the abolition of inheritance tax and the introduction of capital gains tax in 2004 Tax revenue, which was 1.37 trillion krona in 2003, began to increase slightly to 1.423 trillion krona in 2004 and to about 169.35 trillion won in 2014, reaching 1.65 trillion krona or about 196.37 trillion won in 2014
(10)The proportion of taxes to GDP has decreased from 48 to 44 over the past 10 years It is concluded that overall social productivity has increased, with income from corporate taxes and earned income taxes increasing more than the decrease in inheritance taxes, as well as jobs and investment activation

the level of inheritance tax in Korea

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(1)Real Inheritance Tax Rate and Deduction System in Major OECD Countries
(2)The nominal maximum tax rate is the maximum unit rate
(3)Japan 1155 unlisted companies 80 tax deferral exemptions after 5 years
(4)Limited deduction maximum shareholder premium 60 under certain conditions in the family business succession
(5)France 112545 TAKES 75 CONDITIONAL STAKE IN RETURN OFFER
(6)There is no inheritance tax between couples, and gift tax exemptions up to $11.7 million each for children
(7)2040 Listed shares 50 Unlisted shares 100 deducted
(8)Hwang Seung-eon, professor emeritus at Kyung Hee University

Korea’s highest inheritance tax rate of 50

OECD average maximum inheritance tax rate 15

UK-Inheritance Tax 45 But there is no gift tax, so it can be considered that there is virtually no inheritance

U.S.-Coups combined inheritance tax of up to 26 billion won

Japan-family business succession is loose, so you can only pay inheritance tax on houses or land you have as a chaebol or family business succession, but even houses worth 10 billion won are about 1 billion won in inheritance tax based on the route price of both real estate and land

The real tax rate is 13, less than half that of Korea

Canada Sweden Switzerland Norway Australia New Zealand Italy Austria Vietnam Malaysia Singapore Indonesia inheritance tax 0

For your information, the tax rate is the best in Korea, but the deduction amount is not enough

Gift tax deduction up to 50 million won [Laughing] 110 million won in Japan

Even if the abolition of inheritance tax is emotionally difficult, it seems necessary to lower the inheritance tax rate and increase the deduction amount

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