Inheritance tax

Tax on property passed on when someone dies

In detail

Shares and funds count as inherited property just as deposits and real estate do. A valuation date is fixed by law and the amount is taken from the price on that day, so assets that move in price can be valued higher or lower. Most systems have a basic allowance and tax only the estate above it.

Example

With an allowance of $30 million, an estate of shares and cash worth $50 million leaves $20 million in scope.

Differences by country

Japan — Japan's inheritance tax allowance is 30 million yen plus 6 million yen for each statutory heir (as of 2026).

South Korea — Korea's inheritance tax has a basic deduction of ₩200 million, and heirs may take a lump-sum ₩500 million instead of the basic and personal deductions (as of 2026).

Related terms

Gift tax Acquisition cost Tax return

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