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1. Revocation of a judgment of the first instance;
2. The Defendant’s gift tax on October 10, 2007 donated to the Plaintiff on April 1, 201, as the gift tax on the Plaintiff on October 10, 2007.
Reasons
1. Details of the disposition;
A. On August 17, 2007, the KOSDAQ-registered Association Camp Sims Co., Ltd. (hereinafter “camp Sim”) held a board of directors on August 17, 2007, and announced it to the public by a third party at KRW 2,250 per registered ordinary share 16,00,000,000. On September 14, 2007, the board of directors again held a resolution to change the contents and schedule with a certain person subject to new shares allocation and then conducted capital increase (hereinafter “instant capital increase”).
B. On October 10, 2007, the Plaintiff participated in the issue of capital increase and paid the same day shares, acquired 444,44 shares, and 38 persons, including the Plaintiff, participated in the issue of capital increase.
C. On December 9, 2010, the Board of Audit and Inspection: (a) deemed that camping 32 persons, including the Plaintiff (the number of persons, other than six persons, including corporate investors, etc., in the above 38 persons); and (b) notified the head of Namcheon District Tax Office of the imposition of gift tax by deeming the acquisition price of new shares and the appraisal price under the Inheritance Tax and Gift Tax Act to be the donation of profits from capital increase.
The director of the Namcheon District Tax Office prior to the amendment by Act No. 8828 of Dec. 31, 2007
(b) “former Inheritance Tax Act”;
) On the premise that the assessment value per share of the above shares calculated pursuant to Article 39(1)1(c) and Article 29(3)1(1) of the Enforcement Decree of the same Act is KRW 4,840,00, the Plaintiff acquired the above shares at a low price of KRW 2,590 (i.e., KRW 4,840 - KRW 2,250), thereby gaining profits equivalent to KRW 1,151,109,960 through the offering of new shares, and notified the Defendant of the same taxation data. (e) On April 1, 2011, the Defendant imposed penalty tax (including penalty tax) on the Plaintiff on the gift gift of KRW 290,525,682 (including penalty tax) on October 10, 207 (hereinafter “instant case”).