A Study on the Improvement of Inheritance Tax and Gift Tax Act through analyses on Precedents of the Tax Tribunal
Asian Tax Journal Vol. 20 No. 3 (2019), pp. 189-224
Abstract
This study examines the precedents of Tax Tribunal related to Inheritance Tax and Gift Tax Act during the period of 2017 in order to extract the cases which are irrational in the taxpayers’ viewpoints. According to the Statistical Yearbook of Tax Tribunal, 280 out of 827 taxpayers’ disagreement was accepted in 2017 (review, cancellation, rectification and decision). This implies that excessive taxation and collection by taxation authorities may be taking place. This study examines the details of 497 precedents of Tax Tribunal in 2017 in order to identify the imperfections in Inheritance Tax and Gift Tax Act, which is the basis of taxation and collection by taxation authorities, and to suggest remedies. As a result, we found the following points. 1. Whether accepting the value of similar sales cases reported after receipt of the inheritance tax and gift tax return as the market value 2. Clarification of requirements for the expansion of market valuation period 3. Expansion of the valuation date of the property value related to purchase in low price and transfer in high price 4. Clarification of re－application requirements of the fictitious donation of registered property under a third party’s name 5. Compliance with legal term of the decision
Keywords
- Inheritance Tax and Gift Tax Act
- Tax Tribunal
- Tax Appeal
- Taxpayer
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