Inheritance tax rate cut, tougher penalties for financial data breaches

The Korea Herald · Korea Herald · 2026-10-27 04:17 UTC

Proposed Bill: Partial Amendment to the Inheritance Tax and Gift Tax Act Proposed by Rep. Kim Sang-hoon (People Power Party) Proposed Bill: Partial Amendment to

Proposed Bill: Partial Amendment to the Inheritance Tax and Gift Tax Act

Proposed by Rep. Kim Sang-hoon (People Power Party)

- This bill would lower the maximum inheritance and gift tax rate from 50 percent to 40 percent and abolish the 20 percent valuation premium on shares and equity interests held by controlling shareholders, thereby reducing the burden of business succession.

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