[First Release of National Tax Statistics] 9,555 Inheritance Tax Filings Last Year... 13.1% Increase YoY

Number of Gift Tax Filings 151,399... 4.3% Increase YoY

[Asia Economy Reporter Kwangho Lee] The National Tax Service (NTS) disclosed 95 national tax statistics items early on the 17th, ahead of the publication of the National Tax Statistical Yearbook scheduled for December this year.

The NTS publishes the National Tax Statistical Yearbook every December to help the public understand national tax administration and to support tax policy formulation and research. To enable earlier access to tax statistics information, the NTS produces and releases statistics early during the year. This year, early disclosure will be conducted twice.

The 94 items disclosed in the first early release represent an increase of 11 items compared to 84 last year, accounting for 18.6% of the total national tax statistics tables (510 in 2019).

The number of inheritance tax filings and the value of inherited property have been increasing annually.

Last year, the number of filings was 9,555, a 13.1% increase compared to 2018. The value of inherited property rose by 4.7% to 21.538 trillion KRW.

The number of gift tax filings and the value of gifted property are also on the rise.

Last year, the number of filings was 151,399, a 4.3% increase compared to 2018. The value of gifted property also increased by 3.1% to 28.2502 trillion KRW.

The early disclosed national tax statistics tables are available on the National Tax Statistics website, the NTS website, and the National Statistical Portal.

An NTS official stated, "We will continue to reflect the diverse opinions of national tax statistics users and carry out the second early disclosure (scheduled for November) and the publication of the National Tax Statistical Yearbook (scheduled for December) in a substantive manner."

This content was produced with the assistance of AI translation services.