I heard the inheritance tax rate is up to 50%. Do those with a lot of property pay 50% on everything?

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inheritance tax rate

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作者: 김국일

The inheritance tax rate is not a structure where 50% applies uniformly to total property, but a 5-stage progressive tax rate system applied differentially by tax base bracket.

Inheritance tax rates by tax base are 10% for up to 100 million won, 20% for over 100 million to 500 million won (progressive deduction of 10 million won), 30% for over 500 million to 1 billion won (progressive deduction of 60 million won), 40% for over 1 billion to 3 billion won (progressive deduction of 160 million won), and 50% for over 3 billion won (progressive deduction of 460 million won).

The calculated tax amount is calculated by the method of 'tax base × applicable tax rate – progressive deduction'.

Therefore, the highest tax rate of 50% applies only to the portion where the tax base exceeds 3 billion won, and the actual tax burden varies depending on the tax base reflecting deduction items.

Detailed matters related to inheritance tax rates may vary depending on individual property composition, application of deduction items, prior gift history, etc., so it is necessary to make judgments through detailed review based on specific facts.

It is desirable to comprehensively check pre-gift strategies, deduction item review, and reporting structure design through consultation with an inheritance specialist attorney.