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1. The Defendant’s gift tax amounting to KRW 3,716,560,970 (including additional taxes) for the Plaintiff on March 19, 2012.
Reasons
1. Details of the disposition;
A. On December 12, 2006, the Plaintiff, B, C, D, E, and F concluded a management right agreement with the Plaintiff Company H, a non-listed company (hereinafter “H”) to transfer 3,251,652 shares (10% of the total issued shares, and 671,492 shares of the Plaintiff among those shares; hereinafter “H shares transferred by the Plaintiff”) totaling 35,004,03,780 won (10,765 won per share, and the Plaintiff’s transfer proceeds to 7,28,61,380 won) among the shareholders of the non-listed company (hereinafter “I”).
B. On December 12, 2006, J Co., Ltd. (hereinafter “J”) concluded a contract for acquisition of stocks and management rights to transfer 56,400 shares (60% of total issued shares) issued by J (66,00 won per share) to a unlisted company that operates K business to a company that operates K business to transfer 15,02,40,000 won (26,000 won per share).
(hereinafter referred to as “instant transfer acceptance agreement” in total with respect to H’s shares.
On December 22, 2006, the Plaintiff received transfer money of KRW 7,228,61,380 from I, and accordingly paid transfer income tax of KRW 560,779,335.
According to the supplementary method of assessment stipulated by the former Inheritance Tax and Gift Tax Act (amended by Act No. 8828 of Dec. 31, 2007, hereinafter "the Inheritance Tax and Gift Tax Act"), the director of the Central Regional Tax Office of the Central Tax Office of China conducted a tax investigation with regard to I and notified each tax authority of the relevant taxation data, considering that I who did not have any special relationship with the J purchased the shares at a higher price, even though the shares value of H is not 1,091 won per share, and the shares value of J is 4,328 won per share without good cause.
E. Accordingly, the Defendant: (a) on March 19, 2012, pursuant to Article 35 of the Inheritance and Gift Tax Act and Article 26 of the Enforcement Decree of the same Act, the taxable value of donated property is 6,196,013,608 [10,765 won-1,091 x 671, 492 Jeju-30 million won.