Former president Roh Moo-hyun's family has reported an inherited debt of about W300 million to the tax office (US$1=W1,181). The family last week filed a tax return on an inheritance of assets amounting to about W1.3 billion and debts amounting to about W1.6 billion to the Gimhae Tax Office in South Gyeongsang Province, a National Tax Service (NTS) official said Sunday.

"According to the inheritance tax return, former President Roh's property consists of his private residence and nearby hills and land at Bongha Village in Gimhae," he said. "His debt consists of bank loans to cover the construction costs of his residence. His family has more debts than assets, so they don't have to pay inheritance tax."

Roh committed suicide on May 23, and the six-month deadline to file his inheritance tax return was last week.

The NTS usually conducts a tax probe including tracking bank accounts when families of wealthy or influential people file inheritance tax returns. But as of now, the office has no plan to conduct such a probe on Roh family.

"The minimum inheritance tax deduction amount for bereaved families is W1 billion. As long as his family reported an inheritance of about W300 million more debts than assets, I don't think it necessary to conduct a tax probe in this case unless there arises an unexpected variable."

However, the US$1 million Roh's wife Kwon Yang-sook allegedly received from Park Yeon-cha, the CEO of Taekwang Industry, in 2007, and $400,000 which his daughter Jeong-yeon is believed to have spent to buy a New Jersey apartment were reportedly excluded from the family's inheritance tax return. Kwon was being investigated by prosecutors on charges of receiving the money from Park at the time of Roh's death.