Inheritance tax (discontinued), 2003

When the tax-free amount was raised by NOK 50 000 to NOK 250 000 the threshold for higher tax was set to NOK 550 000.

Basis for inheritance tax: inheritance and gifts

Taxable inheritance amounted to NOK 10.4 billion in 2003. Each inheritor received an average of NOK 675 000.

In comparison, taxable gifts amounted to NOK 5 billion. Each inheritor received an average of almost NOK 702 000. 1 100 persons received gifts worth NOK 1 million or more, an increase of 50 per cent compared with 2002.

Inheritance tax

Inheritance and gifts generated NOK 1.3 billion in taxes in 2003. This is approximately the same as in 2002. Every inheritor paid an average of NOK 57 000 in tax, while recipients of gifts paid an average of NOK 59 000. Tax on gifts accounted for roughly one third of the total inheritance tax.

About the statistics basis

The statistics present figures for both possession date and decision date. Possession date is the date on which the inheritor takes possession of the inheritance/gift, and decision date is the date the tax collector decides on the amount of tax to be paid. The statistics do not cover estates in which the tax basis is under the tax-free amount or public administrated estates.

Tables:

• Table 1 Number of recipients of taxable inheritance and gifts, tax basis and total inheritance tax, by possession date. The whole country. 2000-2003. NOK million
• Table 2 Number of recipients of taxable inheritance and gifts according to size of respectively inheritance and gifts. Possession date. The whole country. 2003