2000-01 Annual Report, Inland Revenue Department
(Text Only)

SCHEDULE 11

ESTATE DUTY
DUTY ASSESSED AND COLLECTIONS
FOR THE YEAR ENDED 31 MARCH 2001
Content

Duty Assessed and Collections for the year ended 31 March 2000
Estate Duty

Assessments issued before 1 April 2000 (Dollars thousand)

Original Assessments issued in 2000-01 (Dollars thousand)

Additional Assessments issued in 2000-01 (Dollars thousand)

Total (Dollars thousand)

Outstanding charges brought forward from 1999-2000 261,031 - - 261,031
Less： Amount discharged 17,427 - - 17,427
Net outstanding charges brought forward from 1999-2000 243,604 - - 243,604
Net duty assessed - 1,077,405 3,979 1,081,384
Penalties charged - 11,214 - 11,214
Interest charged 8,298 101,599 7,371 117,268
Total amount payable 251,902 1,190,218 11,350 1,453,470
Less：Amount paid on account before 1 April 2000 - 924,369 1,306 925,675
Net duty, penalties and interest payable in 2000-01 251,902 265,849 10,044 527,795
Less：Outstanding charges carried forward to 2000-2001 177,689 105,705 168 283,562
Net duty, penalties and interest paid in 2000-01 74,213 160,144 9,876 244,233
Add：Duty and interest paid on account in respect of assessments to be issued in subsequent years - 1,258,218 125 1,258,343
Total collections in 2000-01 74,213 1,418,362 10,001 1,502,576

Original Assessments issued in 2000-01
Original Assessments issued in 2000-01

Estates valued under $2m (Dollars thousand)

Estates valued $2m to $4m (Dollars thousand)

Estates valued $4m to $10m (Dollars thousand)

Estates valued $10m to $20m (Dollars thousand)

Estates valued over $20m (Dollars thousand)

Total original assessments (Dollars thousand)

Net duty assessed 503 241 48,459 213,614 814,588 1,077,405
Penalties charged 55 0 789 4,589 5,781 11,214
Interest charged 547 253 8,641 21,827 70,331 101,599
Total amount payable 1,105 494 57,889 240,030 890,700 1,190,218
Less：Amount paid on account before 1 April 2000 0 471 27,141 171,321 725,436 924,369
Net duty, penalties and interest payable in 2000-01 1,105 23 30,748 68,709 165,264 265,849
Less：Outstanding charges carried forward to 2000-2001 745 0 12,490 21,973 70,497 105,705
Net duty, penalties and interest paid in 2000-01 360 23 18,258 46,736 94,767 160,144
Add：Duty and interest paid on account in respect of assessments to be issued in subsequent years - 968 26,591 173,651 1,057,008 1,258,218
Collections of original assessments issued in 2000-01 360 991 44,849 220,387 1,151,775 1,418,362


Contents | Schedules | Schedule 1 | Schedule 2 | Schedule 3 | Schedule 4 | Schedule 5 | Schedule 6 | Schedule 7 | Schedule 8 | Schedule 9 | Schedule 10 | Schedule 11 | Schedule 12 | Schedule 13 | Schedule 14 | Schedule 15 | Schedule 16 | Schedule 17 |

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(Last updated/reviewed : February 18, 2002)