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비거주자의 코스닥상장주식 양도소득 과세여부

Document Number

International Tax Center Management Officer-337 (2010.07.19)

Items of Taxation

national Article

Journal

Income from transfer of stocks issued by a domestic corporation by a non-resident with no domestic place of business through the domestic securities market shall be exempted where the transferor and his/her specially related person possess less than 25% of the stocks of the relevant issuing corporation continuously for the year to which the

Congress RESALS

Income accrued from transfer of stocks issued by a domestic corporation by a non-resident with no domestic place of business through a domestic securities market shall not be taxed in the Republic of Korea if the relevant transferor and a person with a special relationship under Article 98 (1) of the Enforcement Decree of the Income Tax Act possess less than 25% of the stocks of the corporation which has continuously issued the relevant stocks during the year to which the

Article 119 of the Income Tax Act / Article 179 of the Enforcement Decree of Income Tax Act

Main text

(Seed: Reference Materials)

1. A summary of the contents of inquiry;

In case where A and B, a resident who is a non-resident, transfer C-listed stocks (A shall own 1.8%, and B shall own 0.7%) in Korea, whether the transfer income tax of a non-resident is levied.

2. Materials on the contents of questioning;

(a) related tax laws and regulations (law, enforcement decree, enforcement rule, basic rules);

○ Domestic source income of a nonresident under Article 119 of the Income Tax Act 【Domestic source income of a nonresident】 Domestic source income of a nonresident shall be classified as follows:

11. Income prescribed by Presidential Decree, generated from the transfer of stocks, investment shares (including real estate stocks, etc. listed on the securities market), or other securities (including securities under Article 4 of the Financial Investment Services and Capital Markets Act; hereinafter the same shall apply) falling under any of the following items:

(a) Stocks, equity shares, and other securities issued by a domestic corporation;

(b) Stocks or equity shares issued by a foreign corporation (limited to those listed on the securities market), and other securities issued by a domestic place of business of a foreign corporation;

○ Article 179 of the Enforcement Decree of the Income Tax Act 【Scope of Domestic Source Income of Nonresident】

(11) "Income prescribed by Presidential Decree" in the main sentence of subparagraph 11 of Article 119 of the Act means any of the following income:

1. Income accruing from the transfer of stocks or equity shares by a non-resident: Provided, That this shall not include income accruing from the transfer of stocks or equity shares through the securities market (including cases where the stocks are transferred by intermediation under Article 78 of the Financial Investment Services and Capital Markets Act) where the relevant transferor and a person in a special relationship with him/her under Article 98 (1) possess less than 25/100 of the total amount of outstanding stocks or the total amount of investment (in cases of the stocks or equity shares issued by a foreign corporation, the total amount of stocks or equity shares listed on the securities market) of a corporation which has continuously issued the stocks or equity shares during the year in which

(b) Relevant established rules (established rules, interpretation cases, review, adjudication, judicial precedents);

○ International Taxation Institute-414, 209.08.11

Where a non-resident and a person in a special relationship with him/her under Article 98 (1) of the Enforcement Decree of the Income Tax Act transfer stocks (foreign stocks listed on the securities market) under subparagraph 12 (b) of Article 119 of the Income Tax Act through the securities market, and there is no fact that the relevant transferor owns not less than 25/100 of stocks issued by a foreign corporation listed on the year to which the transfer date of stocks belongs and the immediately preceding five years under Article 179 (11) 1 of the Enforcement Decree of the same Act,