Image: Unsplash HIGH-ENDMonday, 12 April 2021 15:50 Multi-Billion Dollar Art Collection Could Settle Historic Tax Bill The gargantuan inheritance tax bill following the death of Samsung's Lee Kun-hee has led to revelations about a private art collection valued in the billions. South Korea’s richest man Lee Kun-hee’s private art collection is believed to have an estimated value of 2.5 trillion to 3 trillion won ($2.7 billion), according to a «Bloomberg» report citing unnamed sources claiming to be familiar with the appraisal process. The source said the collection comprises about 13,000 works by renowned artists such as Pablo Picasso, Claude Monet and Andy Warhol. In addition to financing from other family members and increased dividends, the artworks are viewed by onlookers as another source to pay for a historic inheritance tax bill following the death of Lee in 2020. Historic Tax Bill Lee passed away in October last year at the age of 78 with an estimated fortune of $20.7 billion. Under South Korean law, a levy of 60 percent on inherited shares and 50 percent on real estate and other assets would result in a tax bill of about $10 billion – the largest ever for the country. Lee’s only son and heir to the multi-billion dollar fortune is Jay Y. Lee who has been leading Samsung since his father was incapacitated by a heart attack in 2014. The younger Lee is serving an 18-month jail sentence over bribery to win support for his succession at South Korea’s largest conglomerate.
Why stop at half every one's money...why not steal it all...theft is theft...60% is a majority of his money....
Governments and taxes are the biggest fraud ever. Inheritance, vat tax... all daylight robbery. Fucking scam.
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If my father is clever and through his hard work and cunning becomes very wealthy, or if he is a thief who never got caught and becomes very wealthy, did he do either of these things without the help of his country and his countrymen.. Does he owe anything to his country? Do I deserve to be very wealthy too because I am his son? If I was forced by an evil or just government to get by on only 10 Billion, would that be unjustified.