XN000022-1996-04-24 — Page 80

(b)

66 -

The number of cases outstanding as at 31 March for each year in the past five years with age analysis and the estimated amount of duty involved

For year ended 31 March

1992

1993

1994

1995

1996

Dutiable cases

693

770

728

649

517

Non-dutiable cases

1,004

1.125

836

1,051

980

Total

1,697

1,895

1,564

1,700

1,497

For year ended 31 March

1992

1993

1994

1995

1996

Estimated amount

$400m

$500m

$700m

$700m

$750m

of duty involved*

|

Estimated amount $7,400m $9,300m $13,000m $13,000m $13,900m of estate involved

(dutiable

only)

cases

(c)

* These amounts are rolled-over from year to year. About two-thirds of the amounts represent the additional duty collectable on assets which were either undisclosed or were declared below market values.

The Inland Revenue Department does not keep statistics on the age of the deceased in the outstanding cases or the estimated amount of estate involved in non-dutiable cases.

The main reasons for those cases which have not been settled within two years from the date of filing the application are -

(

pending outcome of litigation (in most cases between executors and beneficiaries);

(ii)

(iii)

disputes on valuation of landed properties and shares in private companies;

valuation of a deceased's interest in a complicated predeceased's

estate;

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