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Samsung heirs to pay billions in tax, donate Monet, Picasso works

Samsung heirs to pay billions in tax, donate Monet, Picasso works
A Samsung flag (R) and South Korean national flag flutter at the company s Seocho building in Seoul on April 28, 2021. Jung Yeon-je / AFP.
by Sunghee Hwang / and Kang Jin-kyu
SEOUL
(AFP)
.- The heirs to South Korea s Samsung group announced their plans to pay more than $10 billion in death duties Wednesday one of the world s biggest-ever inheritance tax settlements and donate an art trove including works by Monet and Picasso.
Lee Kun-hee, the late Samsung Electronics chairman, was the country s richest man when he died last October at age 78 after being hospitalised for years, leaving an estimated 22 trillion won ($19.6 billion) in assets. ....

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Samsung heirs to pay $10 bn in tax, donate Monet, Picasso works

Samsung heirs to pay $10 bn in tax, donate Monet, Picasso works
Top Story
April 29, 2021
SEOUL: The heirs to South Korea´s Samsung group announced their plans to pay more than $10 billion in death duties Wednesday one of the world´s biggest-ever inheritance tax settlements and donate an art trove including works by Monet and Picasso.
Lee Kun-hee, the late Samsung Electronics chairman, was the country´s richest man when he died last October at age 78 after being hospitalised for years, leaving an estimated 22 trillion won ($19.6 billion) in assets. South Korea has stringent inheritance tax laws and high rates, resulting in a hefty bill for the family, including Samsung Electronics vice chairman Lee Jae-yong, who is currently in jail for bribery, embezzlement and other offences. ....

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Samsung Heirs To Pay Billions, Donate Monet, Picasso Works For Tax Bill

Samsung Heirs To Pay Billions, Donate Monet, Picasso Works For Tax Bill
By Sunghee Hwang, and Kang Jin-kyu
04/28/21 AT 2:45 AM
The heirs to South Korea s Samsung group announced their plans to pay more than $10 billion in death duties Wednesday one of the world s biggest-ever inheritance tax settlements including donating Picasso and Monet artworks.
Lee Kun-hee, the late Samsung Electronics chairman, was the country s richest man when he died last October at age 78 after being hospitalised for years, leaving an estimated 22 trillion won ($19.6 billion) in assets.
South Korea has stringent inheritance tax laws and high rates, resulting in a hefty bill for the family, including Samsung Electronics vice chairman Lee Jae-yong, who is currently in jail for bribery, embezzlement and other offences. ....

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Samsung Heirs To Pay Billions In Tax, Donate Monet, Picasso Works

Samsung Heirs To Pay Billions In Tax, Donate Monet, Picasso Works
By Sunghee Hwang, and Kang Jin-kyu
04/28/21 AT 5:52 AM
The heirs to South Korea s Samsung group announced their plans to pay more than $10 billion in death duties Wednesday one of the world s biggest-ever inheritance tax settlements and donate an art trove including works by Monet and Picasso.
Lee Kun-hee, the late Samsung Electronics chairman, was the country s richest man when he died last October at age 78 after being hospitalised for years, leaving an estimated 22 trillion won ($19.6 billion) in assets.
South Korea has stringent inheritance tax laws and high rates, resulting in a hefty bill for the family, including Samsung Electronics vice chairman Lee Jae-yong, who is currently in jail for bribery, embezzlement and other offences. ....

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Samsung heirs face a £7.8BILLION inheritance tax bill

The heirs to South Korea s Samsung conglomerate have announced plans to pay a £7.8 billion inheritance tax bill, despite giving away a £1.3 billion art collection.
The settlement, one of the world s largest ever, comes after the death of the former chairman Lee Kun-hee, who was the country s richest man when he died last October aged 78, leaving an estimated £14.2 billion.
In a rare public statement on Wednesday, the family noted that the bill was equivalent to three to four times the [South Korean] government s total estate tax revenue last year.
The announcement, and the donation of artworks to help reduce the tax bill, is designed to soothe public anger at a corruption scandal which has seen Kun-hee s only son Lee Jae-yong jailed for bribery and embezzlement. ....

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