Where the transfer transaction of unlisted stocks is for the purpose of the corporation's treasury stock retirement, it shall be deemed the refund of capital, not the asset transaction, subject to global income tax.

Whether a sale of shares constitutes a transfer of shares as an asset transaction or whether it falls under a stock retirement or a refund of capital, which is a capital transaction, shall be determined by grasping the whole process of the transaction, such as the intent of the parties and the process of concluding the contract

Article 17 of the Income Tax Act

Article 94 of the Income Tax Act: Scope of Transfer Income

2016Guhap1357 Global income and revocation of disposition

KimA

00. Head of tax office

August 25, 2016

September 29, 2016

1. The plaintiff's claim is dismissed.

2. The costs of lawsuit shall be borne by the Plaintiff.

Cheong-gu Office

The Defendant’s disposition of imposition of KRW 0 of global income tax for the year 2010 against the Plaintiff on October 0, 200 shall be revoked.

1. Details of the disposition;

가. 원고는 2000. 0. 0. 비상장법인인 주식회사 〇〇테크(이하 '〇〇테크'라고만 한다)의 주식 0주(이하 '이 사건 주식'이라고 한다)를 한국자산관리공사의 공매를통해 취득하였다.

나. 원고는 2000. 0. 0. 〇〇테크에 이 사건 주식을 양도하고, 그에 따른 양도소득세를 신고‧납부하였다.

다. 피고는 원고가 이 사건 주식을 〇〇테크에 양도한 것은 〇〇테크의 주식소각이

B. As part of the capital reduction procedure, the income from the transfer of the instant stocks is deemed to fall under the constructive dividend income under Article 17 (1) 3 and (2) 1 of the Income Tax Act, not capital gains, and thus, the Plaintiff’s refund of KRW 0 of the capital gains tax for the year 2000, and the Plaintiff’s refund of KRW 0 of the global income tax (including additional tax) on October 0, 200 (hereinafter “instant disposition”).

D. The plaintiff was dissatisfied with the disposition of this case and filed an appeal on October 0, 200, but the Tax Tribunal rendered a decision to dismiss the plaintiff's appeal on October 0, 2000.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1 through 3, Eul evidence No. 1 (including branch numbers; hereinafter the same shall apply), the purport of the whole pleadings

2. Whether the instant disposition is lawful

A. The plaintiff's assertion

원고는 이 사건 주식을 양도할 때 〇〇테크가 이 사건 주식을 소각할 목적으로

양수한다는 것을 전혀 알지 못하였고, 이 사건 주식 양도 이전에 〇〇테크에서 주주총회나 이사회가 개최되었다는 것 또한 알지 못하였다. 따라서 원고가 이 사건 주식을 양도한 것은 자본거래가 아니라 정상적인 주식의 양도로서 소득세법 제94조 제1항 제3호에 따른 양도소득세의 부과대상이 될 뿐이므로 이와 다른 전제에 선 이 사건 처분은 위법하다.

B. Relevant statutes

The entries in the attached Table-related statutes are as follows.

C. Facts of recognition

Each of the above evidence, evidence set forth in Gap's 4 to 8, and evidence set forth in Eul's 4 to 6

Comprehensively taking account of the purport of body, the following facts are recognized.

1) 〇〇테크는 2000. 0. 0. 〇〇금속공업사의 현물출자에 의한 법인전환방식으

As of October 0, 200, the remaining shares except for the shares of this case were owned by the family members of ParkA and ParkB, a joint representative director, as shown in the following table.

[표] 〇〇테크 주주현황(2000. 0. 0. 기준)

name, title, number of shares

1B Representative Director

2BCC SpouseS

3PDDD

4 Park Ear-man

5Korea’s shares 0

2) On October 0, 2000, the Plaintiff traded the instant shares through the public auction by Korea Asset Management Corporation.

The purchase price was 00 won.

3) 원고는 이 사건 주식을 취득한 이후 2000.0.0. 〇〇테크에 회사정관, 이사

회 의사록, 2000.부터 2000.까지의 결산보고서 및 감사보고서, 대표이사의 각 법인카드지급내역 및 카드별 사용내역, 설물(고철을 의미한다)매각전표 및 관련 서류 일체 등에대한 열람‧등사를 청구하였으나, 〇〇테크는 원고에게 회사정관과 감사보고서만을 제공하였다. 원고는 2000. 0. 0. 및 같은 달 0.에도 〇〇테크에 2000.부터 2000.까지의회계장부와 서류 등에 대한 등사를 청구하였으나, 〇〇테크는 이에 응하지 않았다.

4) 원고는 2000. 0. 0. 〇〇테크의 주주로서 상법 제466조 제1항 소정의 회계

In order to preserve the claim for perusal and copy of books, etc., the applicant filed an application for perusal and copy of the statement of financial position, etc. (the Changwon District Court 2012Kahap199) and the appeal court (the Busan High Court 2012Ra62) of the above case was determined to partially cite the above case on October 15, 2013.

5) 한편 원고는 2000. 0. 0. 〇〇테크의 공동대표이사 박AA, 박BB, 감사 박

An in-house director's leF was accused of occupational embezzlement, and on October 0, 200, a disposition of "no suspicion (defluence of evidence)" was taken against all of the above defendants. However, as a result of the plaintiff's appeal, ○○○○○ decision made re-investigation into ParkB and leF on October 0, 200.

6) 원고는 2000.0.0. 〇〇테크와 사이에 이 사건 주식을 매매대금 0원에 양도하는 내용의 주식양수도계약을 체결하고, 같은 날 〇〇테크로부터 위 매매대금을 모두 지급받았다. 또한 원고는 같은 날 〇〇테크와 사이에 위와 같이 원고가 〇〇테크를 상대로 한 회계장부열람등사 가처분, 〇〇테크의 임원을 상대로한 고소 등을 2000.0.0.까지 모두 취하하고, 민사, 형사, 세무 등 어떠한 형태의 문제제기를 하지 아니하기로 합의하였다.

D. Determination

1) Whether a sale of stocks constitutes a transfer of stocks as an asset transaction or an issue of stock retirement or capital refund, which is a capital transaction, is a matter of interpretation of a juristic act, and should be determined based on the substance and intent of the parties. However, under the substance over form principle, not simply depends on the content or form of the relevant contract, but rather on the party’s intent and the entire process of the transaction, such as the process of concluding the contract, the method of determining the price, and the progress of the transaction, should be actually identified and determined (see, e.g., Supreme Court Decision 2008Du1962

2) 이 사건의 경우 위 인정 사실, 앞서 든 각 증거, 을 제2, 3호증의 각 기재, 증인 윤FF의 일부 증언 및 변론 전체의 취지를 종합하여 인정되는 다음과 같은 사정등을 종합하여 보면, 원고가 이 사건 주식을 〇〇테크에 매도한 것은 거래의 과정을 전체적으로 살펴볼 때 단순히 손익거래 내지 자산거래로서 주식을 양도한 것이 아니라 주식소각방법에 의한 자본감소절차의 일환으로 이루어진 것으로서 주주인 원고에 대한자본의 환급에 해당하고, 그로 인하여 원고가 얻은 순이득은 소득세법 제17조 제1항제3호, 제2항 제1호에 따른 의제배당소득에 해당한다고 할 것이다. 따라서 원고의 주장은 이유 없고 이 사건 처분은 적법하다.

① 〇〇테크는 2000.0.0. 임시주주총회를 개최하였는데, 위 임시주주총회에서 자본의 총액 00원 중 0원을 감소하여 이를 0원으로 하고, 발행주식 총수00주 중 00주(이 사건 주식 수)를 소각하여이를 0주로 감소하기로 하는 내용의 결의가 있었다[증인 윤FF는 피고가 제출한 〇〇테크의 2000.0.0.자 임시주주총회의사록(을 제2호증)의 임시주주총회 개최일이 착오로 잘못 기재된 것으로 보인다는 취지로 증언하였고, 이 사건 변론종결 이후 제출된 〇〇테크 직원 김GG의 사실확인서의 기재도 같은 취지이나, 위 증언 및 기재는 선뜻 믿기 어렵다]. 2000.0.0. 개최된 〇〇테크 이사회에서도 이 사건 주식을 취득가액 0원에 취득한 후 소각 감자하기로 하는 내용의 결의가 있는등 〇〇테크는 처음부터 자본감소절차의 일환으로 이 사건 주식 모두를 매수한 후 소각하기로 결정하였었다.

② According to Articles 341 and 341-2, etc. of the Commercial Act, where an unlisted company can acquire its own shares, etc., it is limited where the unlisted company can acquire its own shares, and the former Commercial Act (amended by Act No. 10600, Apr. 14, 201

전의 것) 제341조 제1호는 자기주식취득의 예외로서 '주식을 소각하기 위한 때'를 규정하고 있었고 이는 자본감소를 위해 주식을 소각하는 경우 등을 지칭하는 것으로 해석되었는데, 2011. 4. 14. 법률 제10600호로 개정된 현행 상법은 자본감소는 해당 관련규정에 의해 행해지므로 굳이 자기주식취득의 예외로서 열거할 필요가 없다고 보아 위규정을 삭제하였는바, 앞서 본 바와 같이 〇〇테크는 자본감소절차의 일환으로 이 사건 주식 모두를 매수하면서 상법 제438조 이하에 규정된 자본금의 감소 절차를 따랐고, 달리 자본감소 외의 자기주식 취득을 허용한 상법 제341조, 제342조의2 등에 규정된 요건 등을 갖추지는 아니하였던 것으로 보이는 점, 〇〇테크는 그리 크지 않은 규모의 비상장법인으로서 사실상 1인회사이고, 이 사건 주식은 비상장주식으로 제3자에게 매도하기가 사실상 어려운 점, 이 사건 주식의 매매대금이 0원에 이르러 〇〇테크의 다른 주주들이 이 사건 주식을 매수하기는 어려워 〇〇테크가 이 사건주식을 매수하게 된 점, 원고는 〇〇테크를 상대로 재무상태표 등의 열람‧등사를 청구하고 2000. 주주총회의 부당성에 관해 논하는 등 상법상 주주의 권리에 관하여 상당한지식을 가지고 있었던 것으로 보이는 점 등을 고려할 때, 원고 역시 자본감소절차의 일환으로 이 사건 주식이 소각될 예정에 있음을 충분히 알 수 있었던 것으로 보인다.

③ 설령 원고가 자본감소절차의 일환으로 이 사건 주식이 소각될 예정에 있었다는 점을 몰랐다고 하더라도, 이 사건 주식을 매수하기로 한 〇〇테크가 처음부터이 사건 주식을 소각하기로 하였었고, 실제로 그와 같이 매수한 주식을 2000.0.0.경 모두 소각한 점을 고려하면, 그와 같은 사정만으로 이 사건 주식 거래의 본질적인성격을 달리 보기는 어렵다.

3. Conclusion

Therefore, the plaintiff's claim is dismissed as it is without merit, and it is so decided as per Disposition.

(c)

Relevant statutes

Income Tax Act

Article 17 (Dividend Income)

(1) Dividend income shall be the following income, generated in the relevant taxable period:

3. Deemed dividend:

(2) Deemed dividends under paragraph (1) 3 means any of the following amounts, and shall be paid to the relevant stockholders, employees, and other investments:

It shall be deemed that dividends have been paid to persons.

1. The value or retirement of money or other property acquired by a stockholder due to a retirement of stocks or reduction of capital;

The value of money and other property acquired by a member or an investor due to his/her resignation or withdrawal or reduction of his/her investment;

The amount in excess of the amount necessary for the source or investor to acquire stocks or investment;

Article 94 (Scope of Transfer Income)

(1) Capital gains shall be the following incomes, generated in the relevant taxable period:

3. Stocks or investment shares falling under any of the following items (preemptive rights, and securities prescribed by Presidential Decree:

Income generated from transfer of deposited securities; hereafter referred to as "stocks, etc." in this Chapter)

(a) The owner of a stock-listed corporation under the Financial Investment Services and Capital Markets Act (hereinafter referred to as "stock-listed corporation");

Large shareholders prescribed by Presidential Decree (hereafter in this Chapter, referred to as "major shareholders") in consideration of the ratio of stocks held, total market price,

(d) Transfer by a large shareholder and o in the securities exchange under the same Act (hereinafter referred to as the "securities exchange").

(1) Transfers not made under this chapter;

(b) Stocks of corporations which are not listed corporations.

Enforcement Decree of the Income Tax

Article 46 (Receipt Date of Dividend Income)

The time of receipt of dividend income shall be the following dates:

4. Deemed dividend under Article 17 (2) 1, 2, and 5 of the Act:

The date of decision on retirement of stocks, reduction of capital or conversion into capital (in cases of a resolution by the board of directors, the Commercial Act shall apply.

The date provided for in the provisions of Article 461 (3) or the date of withdrawal or withdrawal;

Commercial Act

§ 341. Acquisition of treasury shares

(1) A company may acquire its own shares under its name and on its account in the following manners: Provided, That such acquisition price:

The total amount of money shall be an amount obtained by subtracting the amount under each subparagraph of Article 462 (1) from net assets value on the balance sheet for the immediately preceding settlement term.

shall not exceed any limit.

1. In cases of stocks having exchange quotation, the method of acquisition at the exchange;

2. In addition to the cases of different classes of shares concerning the redemption of shares under Article 345 (1), it shall be equal in proportion to the number of shares held by each shareholder;

Method of acquisition under conditions prescribed by Presidential Decree

(2) A company which intends to acquire treasury stocks pursuant to paragraph (1) shall determine the following matters by a resolution of a general meeting of shareholders:

(2) If the articles of incorporation provide that a dividend may be paid by a resolution of the board of directors, the board of directors;

Resolution of the general meeting of shareholders may be substituted by a resolution.

1. The class and number of the stocks that can be acquired;

2. Limit on the total acquisition amount;

3. The period of not exceeding one year for acquisition of its own stocks.

(3) A company shall aggregate the amounts under subparagraphs of Article 462 (1) with net assets value on the balance sheet for the settlement of the relevant business year.

Where it is likely to fall short of the amount, no acquisition of stocks under paragraph (1) shall be made.

(4) The net assets value on the balance sheet for the settlement term of the relevant business year falls short of the total amount of subparagraphs of Article 462 (1).

If a company acquires stocks under paragraph (1) even though it is not possible to do so, the directors shall jointly and severally with the company.

directors shall be liable to compensate for any amount in excess of such amount unless the director considers that there is no risk of

The foregoing shall not apply where it is proved that he/she has not neglected his/her duties.

Article 341-2 (Acquisition of Treasury Shares for Specific Purposes)

In cases falling under any of the following subparagraphs, a company may acquire its own shares, notwithstanding the provisions of Article 341:

section 1.

1. In the case of merger of the company or acquisition of the whole business of another company;

2. Where it is necessary to achieve its objectives in executing the rights of the company;

3. Where it is necessary to deal with fractionalism.

4. Where a shareholder exercises appraisal rights;

§ 343. Redemption of shares

① 주식은 자본금 감소에 관한 규정에 따라서만 소각(��却)할 수 있다. 다만, 이사회의 결의에 의하여 회

The same shall not apply to the retirement of its own stocks held by the company.

(2) Articles 440 and 441 shall apply mutatis mutandis to the retirement of shares in accordance with the provisions on reduction of capital.

Article 438 (Resolution for Reduction of Capital)

(1) In order to reduce capital, a resolution in accordance with Article 434 shall be required.

§ 439. Method of reducing capital, procedures

(1) In cases of a resolution for reduction of capital, the method of reduction shall be determined.

Enforcement Decree of the Commercial Act

Article 9 (Types, etc. of Methods for Acquisition of Treasury Stocks)

(1) The term "manner prescribed by Presidential Decree" in Article 341 (1) 2 of the Act means any of the following manners:

means the method.

1. Method by which the company makes a notification or public announcement of acquisition of its own stocks to all stockholders;

2. Methods of making a tender offer under Articles 133 through 146 of the Financial Investment Services and Capital Markets Act;

(2) A company that has acquired its own stocks shall, without delay, prepare at the head office a detailed statement of acquisition of its own stocks for six months.

shareholders and creditors shall inspect the statement of acquisition of their own shares at any time during business hours. In such cases, shareholders and creditors shall inspect the statement of acquisition of

of the corporation, and may request the delivery of a certified copy or copy of the document at the expense determined by the corporation.

Article 10 (Methods of Acquisition of Treasury Stocks)

Where a company acquires its own stocks pursuant to subparagraph 1 of Article 9, it shall comply with the following standards:

1. Where a company that made a decision under Article 341 (2) of the Act intends to acquire its own stocks, it shall obtain it by resolution of the board of directors;

Terms and conditions of acquisition of shares shall be set forth in the following items. In this case, the conditions of acquisition of shares shall be set equally whenever the board of directors resolves

of the corporation.

(a) Purpose of acquiring its own stocks;

(b) The class and number of stocks to be acquired;

(c) Money or other property to be delivered in return for the acquisition of one share of stocks (excluding stocks of the relevant company; hereinafter the same shall apply);

The details of money, etc. in this Article and the method of calculating them

(d) The total amount of money, etc. to be delivered in return for acquisition of stocks;

(e) A period during which an application for stock transfer may be filed within the scope of 20 to 60 days (hereafter in this Article, referred to as "period for filing an application for stock transfer");

D.)

(f) Time money, etc. is delivered in compensation for transfer within one month from the date the period for application for transfer expires, and out of such time;

on the basis of the acquisition of shares;

2. Financial status of each company and the holding status of its own stocks to its shareholders not later than two weeks prior to the beginning of the period for application for transfer;

Notice of the matters under each item of subparagraph 1 shall be given in writing or by electronic document with the consent of each shareholder: Provided, That the Council shall

If a company issues a bearer share certificate, it shall give public notice three weeks prior to the beginning of the period for application for transfer.

3. The class and number of shareholders who intend to transfer the shares to the company shall transfer by the date on which the period for application for transfer expires.

An application for stock transfer in writing;

4. Where a shareholder has applied for the transfer of stocks to the company under subparagraph 3, the acquisition of stocks between the company and its stockholders;

(1) The time when the contract is concluded shall be the date when the period of application for transfer expires, and the total number of shares requested by shareholders shall be

(b) the scope of the formation of the contract in excess of the total number of shares to be acquired

The number calculated by dividing the total number of shares by the number of shares requested by shareholders pursuant to subparagraph 3 (in such cases, the fraction shall be discarded).

shall be determined

former Commercial Act (Amended by Act No. 10600, Apr. 14, 2011)

Article 341 (Acquisition of Company's Own Shares)

A company shall not acquire its own shares for its own account except in the following cases:

1. In case of the retirement of shares;

2. In case of a merger of the company or an acquisition of the whole business of another company;

3. Where it is necessary to achieve its objectives in executing the rights of the company.

4. Where it is necessary to deal with the principle of simplification.

5. When the shareholder exercises his appraisal right; and