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(영문) 대전지방법원 2012.05.16 2010구합3550
법인세등부과처분 취소
Text

1. Corporate tax against the Plaintiff on April 1, 2008: KRW 58,280,60,670 and securities transaction tax of KRW 2,066,71,660, respectively.

Reasons

1. Details of the disposition;

A. The International Peatum Inc. (hereinafter referred to as the “IPIC”) is a corporation established in accordance with the Abubibrate Act of the United States Armed Forces (hereinafter referred to as the “UAE”), and is aimed at investing in the global petroleum-related business by holding 100% shares of the Abubi Government and investing in the world’s petroleum-related business.

Pursuant to Finland law, IPR holds 100% of the shares issued by the Plaintiff, a legal entity established on 1998, pursuant to the Flagum OY (hereinafter referred to as “Flagum”) and the Austria’s law, a legal entity established on 1997, and in accordance with the Austria’s law, holds 100% of the shares issued by the Plaintiff, a legal entity established on 27 September 1999, pursuant to the Netherlands’s law, and the Flagum holds 100% of the shares issued by the Plaintiff, a legal entity established on 23 January 2006, in accordance with the Netherlands’s law.

B. On December 99, Hancal acquired approximately 612,70,000,000 shares of 122,541,211 shares (the total shares issued) issued by Hyundai Lao Bank Co., Ltd. (hereinafter “Nan Bank”), and on February 9, 2006, 49,016,485 shares among them (the total shares issued; hereinafter “instant shares”) to the Plaintiff at KRW 220,574,182,50 (the 4,500 shares per share) (the 50% shares issued). On February 23, 2006, Hancal acquired approximately 612,70,000,000 shares of 122,541,211 shares (the 50% shares issued by Hyundai Bank; hereinafter “instant shares”). On February 23, 2006, Hyundai Bank again purchased shares at KRW 404,500 shares issued by Hyundai Industries Co., Ltd. (the 2041409.

C. On March 10, 2006, Hancal: (a) with respect to income accrued from the transfer of the instant shares through the Plaintiff, Article 14(4) of the Convention between the Government of the Republic of Korea and the Government of the Kingdom of the Netherlands for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (hereinafter “Korea-Ne Tax Treaty”); (b) Article 14(4) of the former Corporate Tax Act.

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