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Samsung Founder’s Heirs To Donate Thousands Of Art Works In Inheritance Tax

The Lee family, including his widow and three children, expects to pay more than 12 trillion won ($10.8 billion) in inheritance taxes, which is more than half the wealth Lee held in stocks and real estate, Samsung said Wednesday. This would be the largest amount in South Korea and more than three times the country’s total estate tax revenue for last year. Giving away the late chairman’s vast collection of art masterpieces would reduce the taxable portions of his estate. – Toronto Star

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