The actual transaction price in itself or at the time of transaction refers to the actual amount agreed upon as the actual transaction price of the capital gains tax.

Although the transfer value claimed by the Plaintiff is the amount that remains after deducting the obligation borne by the Plaintiff, there is no ground to interpret it as alleged by the Plaintiff in light of the Income Tax Act.

Articles 94, 96, and 97 of the former Income Tax Act

2017Gudan58 Disposition of revocation of imposition of capital gains tax, etc.

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○ Head of tax office

May 31, 2018

August 30, 2018

1. The plaintiff's claim is dismissed.

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

The imposition of KRW 95,973,783 and securities transaction tax of KRW 4,286,400 for the year 2013 shall be revoked by the former Defendant on June 3, 2016.

A. The plaintiff held 40,00 shares of AA(hereinafter referred to as "A") 40,00 (100%) of 20,000 shares, but entered into a contract with BB on December 27, 201 with 400,000 shares of AA(50%) and entered into a contract for operating shares of 20,000 shares of 30,000 shares (hereinafter referred to as "1 contract"), and on March 20, 2013, the remaining AA shares of 20,000 shares (50%) 50,000 shares (hereinafter referred to as "2 contract"), 20,000,000 shares (hereinafter referred to as "2 contract"), 30,000,000 shares (hereinafter referred to as "share 1 and 2 contract") with 306,000,000 shares (hereinafter referred to as "share 20,000,000 shares).

[Ground of recognition] Facts without dispute, Gap 1, 2, 21, 22

2. Whether the instant disposition is lawful

A. The plaintiff's assertion

The actual transaction value of the shares of this case is not KRW 800 million, but KRW 419,168,773 [the profit that the plaintiff could have acquired under the contract of this case KRW 550 million (100 million) + ② the profit that the plaintiff could have actually acquired under the contract of this case + ② the profit of KRW 350 million which the plaintiff could have acquired under the contract of this case + the amount which was deducted by the debt of KRW 130,831,2273) incurred under the contract of this case]; thus, the disposition of this case is erroneous. (b) there is an error of law of misunderstanding the actual transaction value.

It is as shown in the attached Form.

(c) Fact of recognition;

1) The main contents of the instant first contract are as follows.

Article 1 (Subject Matter of Contract) The Plaintiff sells 50% of the Plaintiff’s shares to BB.

① Sale price of 50% of the Plaintiff’s shares: 40 million won

(2) BB shall specify the following specifications with respect to the sale price under paragraph (1) on the condition that the Plaintiff purchases 50% of the Plaintiff’s shares:

- - The following:

◆ BBB의 원고에 대한 4억 원(현금 및 동산) 명세서◆

1. The amount of KRW 100 million, out of the amount of debt 200 million, shall be BB’s debt.

(2) Cash of KRW 150 million

(3) Cash KRW 50 million shall be invested in the project for the education of the Republic of the Philippines (net profit shall be deposited into the Plaintiff’s personal account): Provided, That where the project for the education of the Republic of Korea is declared bankrupt due to the company’s circumstances within one year, BB shall pay to the Plaintiff KRW 50 million.

④ The Plaintiff shall be provided with KRW 100 million per unit of the electronic display board 1,000,000 (BB returned KRW 100 million when acquiring the remainder of the Plaintiff’s 50% interest) owned by BB.

(1) + (2) + ③ + (4) = 400 million won

◎ 2번에 명시된 현금 1억 5,000만 원에서 9,000만 원은 12. 22. 수령하고, 1,000만 원은 12. 26. 수령하고, 잔액 5,000만 원은 2012. 2월 말일까지 원고의 통장으로 입금 약속하였기에 잔액이 입금되는 즉시 원고는 BBB에게 주식 50%를 주주명부등재와 법인등기부상에 이사 등록 및 공증으로 문서화 한다. ※ 2012. 2월말까지 잔액 5,000만 원이 입금이 안될시 계약이 해지됨

2) The main contents of the instant second contract are as follows.

① The Plaintiff sells 50% of the Plaintiff’s shares to BB.

② immediately after BB pays KRW 500 million to the Plaintiff, 50% of the Plaintiff’s shares shall be sold to BB.

(3) In addition to the amount of debts of 92,175,620 won as specified in the table below AA, the plaintiff shall reimburse the liability: Provided, That this shall not apply to the retirement allowances of the personnel of editing stations, e-mails, lectures, faiths, and gender crepits.

④ The loan certificate issued by the Plaintiff to the Republic of Korea on an individual basis shall be transferred to BB immediately after the Plaintiff’s shares are sold to BB. The loan certificate shall be included in the amount of KRW 38,575,620, and the Plaintiff shall cooperate so as not to interfere with the printing of newspapers after the contract.

3) The Defendant made a written answer against the Plaintiff and BB regarding the instant contract. The Plaintiff stated that “The sales price of the instant shares was KRW 150 million in cash, KRW 50 million in the first contract, KRW 50 million in the business investment funds of the Switzerland Language Training Institute, KRW 100 million in the previous contract of the clock Advertising Organization, KRW 50 million in the amount of KRW 50 million in the second contract, KRW 80 million in cash, and KRW 150 million in the amount of KRW 80 million in cash, excluding KRW 650 million in cash.” BB stated that “The acquisition price of the instant shares is KRW 1.4 billion in the document, KRW 50 million in the amount of KRW 90 million in total, KRW 50 million in the Switzerland Education Institute, KRW 50 million in the amount of KRW 90 million in the amount of KRW 500 million in the amount of KRW 1.5 billion in the amount of KRW 500 million in the value of the said shares.”

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1, 2, Eul evidence Nos. 1 and 6, and the purport of the whole pleadings is determined.

In calculating gains on transfer, which is the tax base of capital gains tax, the actual transaction price refers to the amount of actual transaction price, not the market price that reflects the objective exchange value, but the actual transaction price itself or at the time of the transaction (see Supreme Court Decision 2009Du19465, Feb. 10, 201). The Plaintiff asserts that the actual transaction price of the instant shares is the amount calculated by deducting the obligations borne by the Plaintiff from the profits that the Plaintiff could have acquired through the stock transfer contract of this case. However, in light of the provisions of the Income Tax Act and the aforementioned legal principles, there is

Furthermore, in light of the fact that the Plaintiff agreed to transfer 50 million won of the shares owned by the Plaintiff to BB (i.e., debt acquisition by BB), the remaining 50 million won of the shares owned by the Plaintiff (i.e., KRW 100 million), and the Plaintiff was paid KRW 650 million in cash, and even if the Plaintiff actually assumed the obligation to claim the deduction, it was not included in the share transfer price in the instant contract, and there was no evidence to deem the amount claimed by the Plaintiff as necessary expenses in calculating the transfer margin, the instant disposition taken by deeming the transfer value of the shares as KRW 80 million is lawful. The conclusion of March 3, 200 is that the instant disposition was lawful.

Thus, the plaintiff's claim is dismissed as it is without merit.