The Lee family, including his wife and three children, expects to pay more than 12 trillion won in taxes related to inheritance, Samsung said.
Raising cash for the tax payment is crucial for the Lee family to extend its control over Samsung’s business empire, which extends from semiconductors, smartphones and TVs to construction, shipbuilding and insurance.Giving away the late chairman’s vast collection of masterpieces could help smoothen the payment as his family wouldn’t need to pay taxes on donated artworks.
Samsung's founding family will donate tens of thousands of rare artworks, including Picassos and Dalis, and give hundreds of millions of dollars to medical research to help them pay a massive inheritance tax.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: