Payment of goods - butsunou

In principle, inheritance tax is paid in cash, but payment in kind (payment in kind) with inherited assets is also permitted. This is permitted when it is difficult to pay in cash, and assets that can be used for this purpose include national bonds, local government bonds, real estate, corporate bonds, stocks, movable property, etc. After the collapse of the bubble economy, the inheritance tax assessment value (road value) for land was raised to about 70 to 80% of the officially announced land price in 1992, but the actual land price continued to fall, resulting in a reversal phenomenon where the land price fell below the road value, and applications for payment in kind increased sharply. A similar phenomenon also occurred in the case of listed stocks, where the lowest assessment value can be selected from several calculation methods, calling into question the nature of inheritance tax assessment.

[Akira Sanjo]

Source: Shogakukan Encyclopedia Nipponica About Encyclopedia Nipponica Information | Legend

相続税は現金でおさめるのが原則だが、相続財産でおさめる物納（現物納付）も認められている。これは、金銭で納付することが困難な場合に許可され、これにあてることができる財産は国債、地方債、不動産、社債、株式、動産などと定められている。バブル崩壊後、土地の場合、1992年に相続税評価額（路線価）が公示地価の7割から8割程度に引き上げられた半面、実勢地価が下落を続け、路線価を下回る逆転現象がおきる事態が生じ、物納申請が急増した。同様の現象が、複数の算定方式のなかからもっとも低い評価額を選べる上場株式の場合でもおき、相続税評価のあり方が問われている。

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