Inheritance Tax Calculator
Calculate Korean inheritance tax from estate value and deductions (spouse, children, general). Supports 2026 tax law with tier-based tax-saving strategies.
This calculator is for reference only and may differ from actual amounts due to law changes or individual circumstances. Please consult a licensed professional (tax accountant, labor attorney, etc.) for accurate calculations.
Total Deductions
β
Taxable Amount
β
Calculated Tax
β
Tax Payable
β
Notice: Based on Korean Inheritance & Gift Tax Act 2026. Actual tax may vary depending on asset valuation, debt deductions, and additional deductions. Filing deadline: 6 months from death (9 months for foreign residents). Consult a tax accountant for complex estates.
This is an affiliate link. We may earn a commission at no extra cost to you.
Frequently Asked Questions
Q. When must inheritance tax be filed?
Within 6 months of the date of death. Filing on time provides a 3% tax credit on the calculated tax amount.
Q. Is the lump-sum deduction or itemized deduction better?
The β©500M lump-sum deduction is better when family is only a surviving spouse or there are few children. Many children, minors, or disabled members may push itemized deductions above β©500M.
Q. Are agricultural land or family business inheritances different?
The family business succession deduction can reach β©50B but requires strict 10+ year management conditions. The farmland deduction is up to β©3B. This calculator uses standard residential estate rates.
Q. What is the basic inheritance tax deduction?
Basic deduction β©200M + itemized deductions (spouse up to β©3B, β©50M per child). The β©500M lump-sum deduction can be used instead, whichever is larger.
Q. What is the difference between gift tax and inheritance tax?
Gift tax applies when transferring assets during one's lifetime; inheritance tax applies when assets transfer after death. Advance gifting can reduce ultimate inheritance tax.
Q. How much spouse deduction is allowed?
Minimum β©500M up to β©3B within the statutory inheritance share. Maximizing the spouse deduction is the most powerful inheritance tax reduction strategy.
How to Use
Input total assets by category: real estate, financial assets, and other assets.
Indicate whether a spouse survives, number of children, minors, and dependents aged 65+.
All deduction items are auto-calculated. The more favorable of lump-sum (β©500M) or itemized deductions is applied.
Taxable base, calculated tax, filing credit (3%), and final tax payable are displayed.
Expert Knowledge: Inheritance Tax Calculator
Korea's inheritance tax rates are among the highest in the OECD, reaching a top rate of 50%. However, the deduction system is robust β maximizing deductions can dramatically reduce the effective rate.
The spouse deduction is the most powerful tax-reduction tool, allowing up to β©3B (within the statutory share) to be deducted tax-free. Families with a surviving spouse should always model "spousal succession first" strategies.
Advance gifting β transferring assets during one's lifetime β is effective but subject to the 10-year lookback rule (gifts to heirs within 10 years of death are added back to the estate). Using the annual gift tax exclusion (β©50M per recipient per 10 years) over a 10+ year horizon is the safest long-term tax planning approach.
Tax by estate size: β©1B estate with β©500M lump-sum deduction β taxable base β©500M β ~β©90M in tax. For β©3B estates with maximum spouse deduction, effective rates can fall below 20%. Professional tax advisor consultation can save hundreds of millions of won.
Related Tools
Calculate Korean severance pay and retirement income tax from employment dates and salary. Includes IRP tax benefit and mid-term settlement scenarios.
Calculate monthly repayment and total 36-month repayment under Korean court-based personal rehabilitation standards from total debt, income, and household size.
Calculate Korean mortgage loan limits (LTV/DTI/DSR) from home price, region, and income. Automatically applies speculative zone and first-time buyer ratios.