| (1) | Where inheritance commences upon the death of a resident, the heir or legatee may deduct, from the taxable value, whichever is the larger of the total amount of deductions stipulated under Article 18 and Article 20 (1), and 500 million won: Provided, That where no return is filed under Article 67 of this Act or Article 45-3 of the Framework Act on National Taxes, 500 million shall be deducted therefrom. <Amended on Dec. 31, 2019; Dec. 31, 2022> |
| (2) | For purposes of paragraph (1), where the surviving spouse of the decedent is the sole heir, only the total amount of the deductions stipulated under Articles 18 and 20 (1) shall be deducted. |
[This Article Wholly Amended on Jan. 1, 2010]