Estate Planning/ 遗产规划

03 Dec 2014
Estate Planning/ 遗产规划
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Many people think that all debts including the income tax outstanding will be written off when
a person passes away. It is totally wrong.
Inland Revenue Board (IRB) has the right to chase after
the outstanding income tax of a deceased income tax payer. Hence, estate executor has the
obligation to pay the outstanding income tax and obtain a clearance from the IRB before distribute
the estate to the beneficiaries. Failing to do so, the executor will be liable for the outstanding income
tax of the deceased income tax payer.

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