Inheritance tax (discontinued), 1998

The decrease in gifts or advances on inheritance received was less pronounced relative to 1996. In that year 7,900 persons received a total of NOK 2.7 billion in advances on inheritance.

On the average each heir received NOK 350,000 in gifts or advances on inheritance. The corresponding figures for 1997 and 1996 were NOK 394,500 and NOK 343,000 respectively.

Assessed taxes on gifts decreased from NOK 345 million in 1997 to NOK 215 million in 1998. This is a decline of almost 38 per cent. In 1996 the assessed taxes were NOK 219 million.

There were 289 persons who received NOK 1 million or more in gifts. This is 128 fewer persons than in 1997, but about the same number as in 1996. Whereas no one received gifts of more than NOK 10 million in 1998, 9 persons received gifts exceeding that amount in 1997.

The statistical basis also includes tax-free gifts. The number of persons who received gifts or advances on inheritance increases to about 28,700 persons when the tax-free gifts are included. The total amount received as gifts came to NOK 4.5 billion in 1998.

More inherited, and they inherited more

In 1998 heirs received NOK 8.1 billion in taxable inheritance, an increase of NOK 870 million or 12 per cent over the previous year. A total of 23,500 persons received an average of NOK 346,500 in taxable inheritance. In 1997, 21,700 persons received an average of NOK 335,500 in inheritances of this sort. In other words, there were more people who inherited and they inherited more.

A total of NOK 694 million was assessed in inheritance taxes, compared with NOK 613 million in 1997. This amounts to an increase of about 13 per cent.

Slightly less than 1,000 persons inherited NOK one million or more in 1998. The corresponding figures for 1997 and 1996 were 800 and 500 persons respectively.