the amount of deposits to an affiliate is not equivalent to the amount of provisional payments.

offering the deposits of a person with a special relationship as security for the convenience of lending to an affiliate shall not constitute a provisional payment in office.

Article 28 of the Corporate Tax Act

2015Guhap63678 Revocation of Disposition of Corporate Tax Imposition

○○ Co., Ltd.

The director of the tax office.

October 7, 2015

November 13, 2015

Cheong-gu Office

The same shall apply to the order.

1. Details of the disposition;

A. The Plaintiff is a corporation that operates department stores and discount stores, stock companies 】 stock company 】 】 】 】 】 】 】 】 74% of the Plaintiff’s shares (the 26% of the Plaintiff’s shares are owned by the Teachers and Staff Mutual Aid Association).

(b) The plaintiff taken over August 200 】 】 】 ( August 2009 】 while divided and merged the business sector of △ △ △ (Seoul 】 ownership 】 Gu 】 】 Dong 】 】 two other (hereinafter referred to as "real estate in case"). The real estate in this case 】 】 The real estate in this case 】 The amount of the U.S. dollars borrowed from the bank.

The right to collateral security (hereinafter referred to as the "right to collateral security of our bank") was established on USD 50 million.

B. The plaintiff did not terminate the above right to collateral security while accepting it.

C. In June 2010, the Plaintiff planned asset-backed securitization of sales bonds and immovable property owned.

In order to guarantee the fulfillment of the obligation to compensate for damage under the Asset-Backed Securitization, it was necessary to adjust the priority of the right to collateral security of the bank established on the real estate of this case to issue the trust beneficiary certificates which trust the real estate of this case to the new bank and the new bank as the first beneficiary.

D. Accordingly, the Plaintiff’s term deposit amounting to KRW 10 billion in our bank according to the agreement with our bank.

the term deposit return claim(hereinafter referred to as "the term deposit return claim of this case")

A right is created 】 Additional security for the 】 (Period: June 25, 2010 to December 12, 2012)

31. In providing the notice, the second priority order of the right to collateral security of our bank was adjusted in the second priority order.

E. On the other hand, the Plaintiff’s act of offering security for the instant claim for the refund of fixed deposit is a wrongful calculation.

The difference between the weighted average loan interest rate and the fixed deposit interest rate during the agreed period (from June 25, 2010 to December 31, 2012) was deemed to fall under the above, and reported corporate tax for the 2012 business year after the recognition interest rate was added to the gross income.

F. On February 6, 2014, the defendant: (a) the plaintiff has a special relationship as its shareholder ¡¿ 】 】 】

The amount of the claim for the refund of time deposit of this case offered as security 】 ¡¿ 】 The branch of business office for the 】

Relevant interest paid for the business year 249,179,503 won and the business year 2011, regarded as "amount paid";

】 】 】 804,680 won was excluded from deductible expenses; 】 corporate tax for 2010 】 】 】 】 938,180 won, corporate tax for 201 】 】 】 】 859,610 won was corrected and notified respectively.

G. The Plaintiff appealed and filed an appeal with the Tax Tribunal on March 7, 2014, but tax was imposed.

The Tribunal dismissed the plaintiff's claim on February 16, 2015 (However, the Tax Tribunal shall not undertake the above 2010 Project.

In relation to the imposition of corporate tax, the shares issued by the Defendant pursuant to the exercise of put options by financial investors.

The decision was made to the effect that the amount (including the amount of corporate tax, x x x x x x x x x x x x x x x x ) is not included in the gross income with respect to each payment, and that the amount of corporate tax for the business year of 2010 corrected accordingly x x x 】 x 846,854 (including additional tax) x hereinafter referred to as "the disposition in this case, including the disposition of imposition of corporate tax and corporate tax for the business year of 2010 remaining after such reduction).

H. The Defendant’s interest on the loan equivalent to the provisional payment in office in the instant disposition is the interest paid by the Defendant.

If the amount of non-deductible expenses (249,179,503 won in the business year 2010,678,804,680 won in the business year 2011) is included in the deductible expenses, the amount to be reduced is 54,819,491 won in the business year 2010, and 194,46,680 won in the business year 2011.

[Ground of recognition] Unsatisfy, Gap evidence 1 to 3, Eul evidence 1 to 3

Each entry, the purport of the whole pleading, including each number)

2. Whether the instant disposition is lawful

A. The plaintiff's assertion

In principle, a provisional payment that is not subject to the exclusion of paid interest from deductible expenses shall be directly lent.

(1) The term "loan" means any loan equivalent to the loan in its nature, but this case includes any loan

The Plaintiff’s offering of the instant claim for the refund of the time deposit to the Bank as security to the Bank for the World.

Since the amount of the fixed deposit cannot be deemed to have been directly lent to the World, it shall not be deemed to have been directly lent.

No payment cannot be deemed as payment. Accordingly, the part of the disposition of this case, which was made on a different premise, is considered as payment.

that is illegal.

B. Relevant statutes

The actual provisions of the former Corporate Tax Act (amended by Act No. 11128, Dec. 31, 201)

Article 28 (Non-Inclusion of Interest Paid in Calculation of Losses)

(1) The interest on the following borrowings shall be included in deductible expenses for the purpose of calculating the amount of income of a domestic corporation for each business year:

shall not be admitted.

4. Each company of a domestic corporation that acquires or owns any of the following assets:

The amount calculated, as prescribed by Presidential Decree, from among interest on borrowings paid in the business year (any year of loans);

shall be limited to interest of an amount equivalent to the value of assets of the party.

(b) Provisional payments made to persons with a special relationship under Article 52 (1) without connection with the business of the relevant corporation;

(假������) 등으로서 대통령령으로 정하는 것

The actual provisions of the former Corporate Tax Act (amended by Act No. 10423, Dec. 30, 2010)

Article 28 (Non-Inclusion of Interest Paid in Calculation of Losses)

(1) The interest on the following borrowings shall be deductible expenses in calculating the income amount of a domestic corporation for each business year:

shall not be included in this chapter.

4. Business year of a domestic corporation which acquires or holds assets falling under any of the following items:

Of interest on borrowed money paid, the amount calculated under the conditions as prescribed by the Presidential Decree.

limited to interest of an equivalent amount)

(b) Whether payment has been made to a person with a special relationship under the provisions of Article 52 (1) without connection with the business of the corporation;

Payments, etc. prescribed by Presidential Decree

The Enforcement Decree of the Corporate Tax Act

Article 53 (Non-Inclusion of Interest Paid on Non-Business Assets, etc. in Calculation of Losses)

(1) Those prescribed by Presidential Decree in Article 28 (1) 4 (b) of the Act, regardless of their names.

Loans of funds unrelated to the business of a corporation (a financial company, etc. falling under any subparagraph of Article 61 (2))

In such cases, it refers to the amount of loans that cannot be deemed the main profit-making business: Provided, That Ordinance of the Ministry of Strategy and Finance

The amounts prescribed in this section shall be excluded.

The actual provisions of the former Enforcement Decree of the Corporate Tax Act (amended by Presidential Decree No. 22951, Jun. 3, 2011)

Article 53 (Non-Inclusion of Interest Paid on Non-Business Assets, etc. in Calculation of Losses)

(1) The term "those prescribed by the Presidential Decree" in Article 28 (1) 4 (b) of the Act means regardless of their names.

The amount of loan that is not related to the business of the corporation (a financial company falling under any subparagraph of Article 61 (2)).

In the case of a company, it refers to the amount of a loan that cannot be deemed a main profit-making business: Provided, That planning materials;

The amount determined by the Government Ordinance shall be excluded.

C. Determination

1) Article 28(1)4(b) of the Corporate Tax Act and Article 53(1) of the Enforcement Decree of the Corporate Tax Act

“Provisional payments, etc. paid without connection with the business” is purely meaningful loans, as well as claims.

by nature, any amount equivalent to the loan shall be included, and any interest shall be paid at a reasonable interest rate

It includes the case of providing the payment, and whether it is related to the business of the provisional payment

It should be objectively determined on the basis of the purpose of the corporation's business or its contents.

Seoul High Court Decision 2006Du15530 decided September 25, 2008

On the other hand, in principle, the provisional payment without office is directly lent.

It also includes the case corresponding to the loan, and the deposit and security of a corporation's term deposit.

bank's loan to a person with a special interest, unless the bank's loan to such person is a separate legal act

the act of offering security to the person with a special relationship constitutes a direct lending to such person; or

(1) The term “term deposit” may not be deemed to be an act equivalent thereto, which is provided by a corporation as security.

Even if a related person takes advantage of the benefit of a loan, the same applies (Supreme Court Decision 2005 May 25, 2006).

Supreme Court Decisions 2004Du13660 Decided April 23, 2009; 2006Du19037 Decided April 23, 2009.

2) The health team on this case based on the above legal principles 】 (the health team 】 】 the maximum of the plaintiff

A shareholder under Article 28 (1) 4 (b) and Article 52 (1) of the Corporate Tax Act;

Although it is recognized that the applicant is in the position of the fraternity, the bank 】 】 】 】 loan act to the lender and the plaintiff

The plaintiff is a juristic act separate from the deposit of the deposit, and even though the plaintiff is against the bank,

Persons in special relationship by offering the claims for return of time deposits as security 】 】 】 The bank of Korea

Even if the repayment of the loan is deferred, the deposit and security of the Plaintiff’s time deposit is offered.

Providing 】 Conduct 】 Direct lending to 】 or other acts corresponding thereto.

section 20.

Therefore, the amount of the claim for the refund of the time deposit of this case among the disposition of this case shall be paid provisionally without office

As such, the portion of the interest paid in the calculation of non-deductible expenses is unlawful.

In intentionally imposing corporate tax of KRW 4,610,846,854 (including additional tax) for the business year 2010

The portion exceeding 4,556,027,363 won (54,819,491 won) and the corporate tax for the business year 2011

681,859,610 won (including additional taxes) in excess of 487,392,930 won in the disposition of imposition

(194,466,680 won) shall be revoked, and the plaintiff's assertion shall be with merit.

3. Conclusion

The plaintiff's claim of this case is justified and it is so decided as per Disposition by the assent of all.

section 3.