Seoul Administrative Court 2014Guhap21752 ( August 19, 2015)

whether it falls under the case of allocating by means of public offering of securities

(1) It is reasonable to deem that the method of public offering of new securities conducted by the Financial Supervisory Commission without acceptance of a securities registration statement does not constitute a case where the former Securities and Exchange Act does not apply to a case where the securities are offered as securities that are not deemed subject to gift tax under the former Inheritance Tax

Inheritance Tax and Gift Tax Act Article 39 (Donation of Benefits)

2015Nu58463 Revocation of Disposition of Imposition of Gift Tax

AA

BB Director of the Tax Office

Seoul Administrative Court Decision 2014Guhap21752 decided August 19, 2015

May 12, 2016

May 26, 2006

1. The plaintiff's appeal is dismissed.

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

The judgment of the first instance shall be revoked. The Defendant’s donation made on December 2, 2013 to the Plaintiff on August 16, 2007, which was made on December 2, 2013.

Each imposition of gift tax (including additional tax), KRW 12,087,240, KRW 12,904,900, KRW 77,683,270, shall be revoked.

1. Quotation of judgment of the first instance;

Article 8 Section 2 of the Administrative Litigation Act, since the reasoning of this court's judgment is the same as that of the court of first instance.

A claim shall be quoted in accordance with the main sentence of Article 420 of the Civil Procedure Act.

2. Conclusion

Since the judgment of the first instance is justifiable, the plaintiff's appeal is dismissed as it is groundless.