In the case of mutual exchange of stocks, the calculation standards for stock transfer value

In case of mutual exchange of assets, the market price of assets acquired in return for the transfer of assets shall be calculated, and the value of assets agreed upon between the parties shall not be the transfer value.

Article 15 of the Corporate Tax Act: Scope of Gains

1. Each disposition of imposition of KRW 10,014,889,474, special rural development tax, KRW 1,034,043,343, and securities transaction tax, which the Defendant imposed on the Plaintiff on November 19, 2004, shall be revoked, respectively.

2. The costs of the lawsuit are assessed against the defendant.

Cheong-gu Office

The same shall apply to the order.

1. Details of the disposition;

"가. 원고는, 2000. 7 26. ○○제지 주식회사 등 8개 법인으로부터 ○○○닷컴 주식회사의 발행주식을 양수하고, 그 대가를 현금, 약속어음 및 ◈◈◈◈텔레콤 주식회사(이하, '◈◈◈◈텔레콤'이라고 한다)의 발행주식 등으로 지급한 외에, 2000. 6. 15.자 주식양수도계약 및 2000. 7. 25.자 수정계약(부수계약)에 따라 2000. 10. 5. 조◎◎으로부터 ○○○닷컴 주식회사의 발행주식 5,853,218주(이하,이 사건 ○○주식'이라고 한다)를 양도받고, 그 대가로 같은 날 조◎◎에게 현금 66,669,526,019원 및 자신이 보유하고 있던 ◈◈◈◈텔레콤 발행주식 421,265주(이하, '이 사건 주식'이라고 한다)를 양도하였다.",나. 원고는 2000사업연도 법인세와 이 사건 주식의 양도에 대한 증권거래세를 신고 ·납부함에 있어, 이 사건 주식의 양도가액을 아래와 같은 방법으로 산정하였다.

- Transfer value: the number of shares (421,265 shares)x (421,265 shares) of the closing price (258,000 shares) as of the date of the transfer of the shares in this case ( October 5, 200).

다. ♤♤지방국세청장은 세무조사 과정에서 원고와 조◎◎ 등이 위와 같이 주식교환거래를 함에 있어 이 사건 주식 등 ◈◈◈◈텔레콤 주식의 1주당 가액을 390,000원으로 정하여 거래한 것으로 보고, 피고에게 1주당 390,000원으로 계산하여 산정되는 이 사건 주식 등 ◈◈◈◈텔레콤 주식의 가액을 양도가액으로 하여 법인세 및 증권거래세의 각 과세표준과 세액을 산정하도록 통보하였다.

"라. 피고는 위 통보에 따라 2004. 11. 19. 원고에게 이 사건 주식 등 ◈◈◈◈텔레콤 주식의 양도에 관하여 2000사업연도 법인세 56,287,035,870원, 농어촌특별세4,719,782,250원 및 증권거래세 2000. 7월분 1,180,480,640원, 2000. 10월분171,904,340원을 경정 부과하였다(이하, 위 각 부과처분을당초 처분'이라고 한다). 마. 원고는 당초 처분에 불복하여 2005. 2. 4. 국세심판원에 심판청구를 하였고, 국세 심판원은 2006. 11. 2.경 위 심판청구를 일부 인용하는 결정을 하였는바, 그 취지는 아래와 같다.",- 이 사건 주식의 양도시기는 2000. 7. 25.이고, 양도가액은 2000. 7. 25. 당시 이 사건 주식 1주당 증권거래소 종가인 346,000원을 기초로 하여 산정하여야 하며, 위와 같이 산정된 양도가액을 기준으로 하여 과세표준과 세액을 경정하여야 한다.

"바. 피고는 위 심판결정에 따라 2006. 11. 16. 당초 처분에 의하여 부과된 세액 중 법인세는 46,272,146,399원, 농어촌특별세는 3,689,294,865원, 증권거래세는 2000. 7월 분 675,362,425원, 2000. 10월분 110,055,481원 등을 각 감액경정하였다가 농어촌특별세에 관하여는 3,555,949원을 다시 추징하였다(위 감액경정처분(농어촌륵별세에 관한 추징처분 포함)에 의하여 당초 처분 중 주문 제1항 기재 각 세액 부분이 잔존하게 되었는바, 당초 처분 중 감액되고 남은 주문 제1항 기재 각 세액 부분을이 사건 각 처분'이라고 한다).",(인정 근거) 다툼 없는 사실, 갑1 내지 6호증, 을1 내지 12호증(가지번호 포함)의 각 기재, 증인 권◇◇의 증언, 변론 전체의 취지

2. Determination on the legitimacy of the disposition

A. The plaintiff's assertion

(1) In light of the following, the transfer value of the instant shares shall be calculated on the basis of the market price at the time of October 5, 200, which is the transfer date.

- According to Article 68(1)3 of the former Enforcement Decree of the Corporate Tax Act (amended by Presidential Decree No. 17033, Dec. 29, 2000; hereinafter the same), since the time when the assets of a corporation are transferred is the date of settlement of the price, the transfer value of the stocks of this case shall be calculated based on October 5, 200, which is the date of settlement of the price.

According to Article 41 of the Corporate Tax Act and Article 72 of the Enforcement Decree of the same Act, in the case of an exchange transaction between shares, the transfer value of transferred shares should be calculated as the market value at the time of acquisition of the shares acquired.

- In exchanging the instant stocks and the instant ○○○ Stocks, the Plaintiff and the Man legal representative did not set the price of the instant stocks at KRW 390,000 per week (this was confirmed in the judgment above), and even if the Plaintiff and the Man legal representative had determined the price of the stocks to be exchanged between Man legal representative and Man legal representative, in light of the purport that the provision of the above corporate tax law does not arbitrarily evaluate the value of the acquired assets in an exchange transaction between assets, the transfer value of the instant stocks cannot be calculated on the basis of the price determined by the agreement between the Plaintiff

- Therefore, in principle, the transfer value of the instant shares should be calculated based on the objective value of the part corresponding to the instant shares out of the ○○ shares that the Plaintiff acquired from her knives, but it is difficult to calculate the objective value due to such reasons as the management premium is included, etc. Therefore, the market value of the instant shares in relation to the instant ○○ shares, etc. can be deemed as the transfer value of the instant shares (the same position in the above point of view with the Defendant and the judgment above).

(2) In addition, the market price at the time of October 5, 200, which is the date of the transfer of stocks of this case, is 258,000 won per share. Based on this, the transfer value and corporate tax of the stocks of this case, and the tax base and tax amount of securities transaction tax shall be calculated.

(3) Nevertheless, each of the dispositions of this case was made after calculating the respective tax base and tax amount of the transfer value and corporate tax of this case, securities transaction tax, and securities transaction tax, based on the closing price of 346,000 won, which is the market price of the stock of this case as of July 25, 2000 (the closing price of the Stock Exchange, which is close to the close price of July 25, 2000, which would rather be the market price at the time of July 26, 200).

B. Relevant statutes

As shown in the attached Form.

(c) Fact of recognition;

"(1) 조◎◎ 및 국내외 8개 법인은(이하양도인들'이라고 한다)은 코스닥 등록업체인 ○○○닷컴 주식회사(이하○○○닷컴'이라고 한다) 발행주식 중 약47.85%(74,993,052주, 이하양도인들 소유 주식'이라 한다)를 보유하면서 ○○○닷컴에 대한 경영권을 행사해 오다가 원고와 사이에 2000. 3월경부터 양도인들 소유 주식을 원고에게 일괄 양도하는 협상을 하였고, 2000. 6. 6. 거래조건협상이 타결되었으며, 2000. 6. 15.에는 주식구매계약이, 2000. 7 25.에는 부속계약이 각 체결되었다.",(2) 양도인들과 원고 사이에 2000. 6. 6. 합의된 내용은, 원고와 ○○○닷컴 주식의 양도대가로 현금 30%와 ◈◈◈◈텔레콤 주식 70%를 지급받는 조건을 선택한 매도자 {조◎◎, ○○제지 주식회사, ○○건설 주식회사, 주식회사 □□(2001. 7. 30. ○○개발주식회사에 흡수합병됨), ♤♤♤그룹} 사이에서는 ○○○닷컴 주식을 1주당 40,000원, ◈◈◈◈텔레콤 주식의 가격을 390,000원으로 하여 주식교환비율을 1:9.75로 하고, 원고와 ○○○닷컴 주식의 양도대가로 현금 20%와 약속어음 80%를 지급받는 조건을 선택한 매도자(☆☆☆ 그룹) 사이에서는 ○○○닷컴 주식을 1주당 37,000원으로 한다는 것이다.

(3) 그 후 2000. 6. 8. 양도인들인 조◎◎과 ○○그룹측이 ♤♤♤ 그룹과 ☆☆☆ 그룹으로부터 경영권에 대한 보상명목으로 300억 원에 해당하는 ◈◈◈◈텔레콤 주식 76,923주를 넘겨받기로 하였고(30,000,000,000원÷76,923.0769주=390,000원), ♤♤♤ 그룹과 ☆☆☆그룹은 양 그룹에 배정된 매수대가(현금, 약속어음 및 ◈◈◈◈텔레콤 주식)를 지급수단별로 각각 합산하여 매도주식의 비율대로 양 그룹간에 재배분하기로 하였으며, 양도인들 측에서 작성한 계약서 초안 부록 2.1에 의하면, 이 사건 주식을 양도하고 현금70,598,616,000원과 ◈◈◈◈텔레콤 주식 444,773.1152주를 취득하는 것으로 되어 있 다.

(4) 양도인들과 원고 사이에 2000. 6. 15. 체결된 주식구매계약의 내용은, 기존에 합의된 계약 중 양도인들에게 배정된 ◈◈◈◈텔레콤 주식 중 1주 미만의 주식(총 4.9795주)을 주당 390,000원으로 계산한 현금(총 1,942,000원)으로 하여 양도인들에 배정된 현금에 추가하는 것 이외에 변동된 계약내용은 없었다. 위 계약에 의하면, 원고가 양도인들에게 양도인들 소유 주식의 양수대가로 현금 합계 748,728,282,200원(25%), 약속어음 합계 972,876,608,801원(35%), ◈◈◈◈텔레콤 주식 합계 3,024,397주(40%)를 지 급 내지 교부하고 양도인들 소유 주식을 양수하는 것이었으며, 조◎◎의 경우 이 사건 주식을 양도하고, 그 대가로 현금 70,598,660,944원{70,598,615,000원+4,944원(≒0.1152X390,000원)}의 지급과 ◈◈◈◈텔레콤 주식 444,773주를 양도받는 것이었다. (5) 2000. 7. 25.자 부속계약의 내용은, 양도인들 소유 주식 양도대금에서 ◈◈◈◈텔레콤 주식이 차지하는 비율(40%)과 현금 등이 차지하는 비율(60%)은 그대로 하되, 현금 중 원화, 달러화, 약속어음으로 지급할 금액의 비율과 조◎◎ 등 내국인 주주에게 지급할 ◈◈◈◈텔레콤 주식수를 일부 조정한 것으로, 구체적으로 일부 조정한 내용을 살펴보면, 원고가 ○○○닷컴의 ∇∇∇ PCS 가입자수 등 자산실사결과에 따라 손해배상요구를 하여 이에 대하여 협상한 결과 총 손해배상액을 280,875,517,412원으로 하되, 그 중 13,499,999,998원은 내국인 주주에게 지급할 현금(원화)에서, 235,875,217,414원은 외국 법인에게 지급할 약속어음금에서 각 차감하고, 나머지 31,500,300,000원은 내국인 주주에게 지급할 ◈◈◈◈텔레콤 주식수에서 80,770주(1주당 390,000원으로 계산 됨. 2000. 6. 15.자 계약에 따라 내국인 주주가 취득할 ◈◈◈◈텔레콤 주식수는 총 1,525,181주였으나 2000. 7, 25.자 부속계약에 따라 위 80,770주를 뺀 나머지 1,447,411주를 내국인 주주가 취득함)를 차감하는 것이다.

(6) 양도인들은 2000. 7. 25.자 계약에 따라 2000. 7. 26. 일괄적으로 원고로부터 양도인들 소유 주식의 양도대금을 지급받았으나, 조◎◎은 대주주로서 취득 후 1년 내 양도에 따른 양도소득세 중과세를 피하기 위하여 양도대금 지급일을 2000. 10. 5.자로 하였다. 양도인들 소유 주식의 양도인별 양도주식수, 원화, 달러화, 약속어음금 및 ◈◈◈◈텔레콤 주식수의 내역은 아래 표와 같다.

Transferors

Number of transferred shares

Method of payment of price

won in won

US$S

Promissory Notes (won)

◈◈◈◈텔레콤

Number of Stocks

x-AF Lt.

7,952,804

41,184,531,397

29,035,919

15,824,861,620

217,220

Y-AIP Lt.

6,882,481

35,641,966,450

25,128,139

100,236,647.279

187.985

x-AIF Ltd.

7,076,337

36,645,838,386

25,835,913

103,059,971,527

193,280

Sub-committees

21,911.62

113,472,36,233

79,99,971

319.121.480,4261

598,485

지지지鹬 Far-Ealecom Ltd

28,707,767

144,524,133,550

20,491,404

478,682,525.751

897,731

지지지 Korea

4,159,686

25,683,322,418

9,508,625

Sub-committees

32,867,453

170,207,455.968

120,000,029

478,682,525.751

897,731

○○ Co., Ltd.

11,330,759

128,402,163,332

811,334

Maternus

5,883,218

66,669,526.019

421,265

○ Construction Corporation

1,500,000

16.98,400,325

107,406

△, Inc.

1,500,000

16,998.400,325

107,406

Sub-committees

20,213,977

229.068,490.01

1,447,411

Total

74,993,052

512,748,282.202

200,000,000

797,804,006,177

2,943,627

(Reasons for Recognition) Facts without dispute, the evidence employed before, each entry in the evidence 7 to 10 evidence (including the serial number), and the purport of the whole pleadings.

D. Determination

(1) In determining the tax base of the corporate tax and securities transaction tax, the calculation of the transfer amount of shares of this case

According to Articles 13, 14(1) of the Corporate Tax Act, Articles 14(1), 14(1) and (3), 19, and 41 of this Act, and subparagraphs 2, 19(2), and 72(1)5 of Article 11 of the Enforcement Decree of the Corporate Tax Act, the corporate tax base is basically a corporation’s income for the relevant business year; the income for the relevant business year is the amount calculated by deducting the total amount of losses from the total amount of gross income for the relevant business year; where a corporation transfers its assets, the transfer amount of the assets shall be the gross income; and the book value at

On the other hand, the method of calculating the transfer value of assets is at issue where a corporation selects the exchange as a method of transferring assets. As seen above, corporate tax is at issue in its nature and corporate tax is at issue in calculating the amount of income for a specific business year after deducting the total amount of losses from the total amount of earnings for the pertinent business year is ultimately identical to the total amount of gains obtained by deducting losses from the total amount of earnings for each transaction. Thus, in light of the principle of substantial taxation, the income gained by the corporation through the exchange of assets owned by it is consistent with the gains from transfer that it gains from the transfer of assets owned by it. In light of the principle of substantial taxation, the transfer value, which forms the basis of calculating the transfer value, should be calculated by the objective value of assets acquired by the corporation as a consideration for transfer of assets owned by it (this legal doctrine is equally applied to cases where both parties agree on the transfer value of each assets subject to exchange, and it can be interpreted that the transfer value of assets at issue at the time of the exchange reaches the agreement between each corporation and the transfer value of assets at will.

In light of the above legal principles, in determining the corporate tax base for 200 business year for the plaintiff, the transfer amount of the shares of this case to be included in gross income shall be calculated according to the objective value, i.e., the market price at the time of acquisition, by the number obtained by multiplying the number of the shares of this case by 9.75, which is the exchange ratio with ○○ Stocks of this case (hereinafter referred to as the "the portion of ○○○ Stocks of this case"), among the shares of this case, the number of the shares of this case, which are acquired in return for the transfer of the shares of this case by the plaintiff, (hereinafter referred to as "the part of ○○ Stocks of this case").

(2) Whether the initial disposition and each of the dispositions of this case are legitimate

(A) As seen above, the original disposition is imposed on the premise that the transfer value of the shares of this case was agreed between the Plaintiff and Cho Mandong, etc. at KRW 390,00 per share, and the corporate tax, etc. is corrected and imposed on the premise that the transfer value of the shares of this case was decided to be KRW 390,000 per share between the Plaintiff and the Plaintiff, Mandong, etc. according to the above facts, even if there is room to view that the price per share of the shares of this case was determined to be KRW 390,000 per share between the Plaintiff and the Plaintiff, Mandong, etc., in light of the legal principles as seen earlier, the market value of the assets acquired in return for

(B) On the other hand, each of the dispositions of this case, under the premise that the transfer date of this case was July 25, 2000, based on the market price of 346,000 won per share at the time of transfer, was calculated based on the determination of the National Tax Tribunal’s determination, and the amount of corporate tax, etc. imposed on the corporate tax calculated by the initial disposition was reduced, and each of the dispositions of this case is unlawful in the following two respects.

- Pursuant to Article 68(1)3 of the former Enforcement Decree of the Corporate Tax Act, if a corporation transfers stocks, the transfer price shall be deemed the date of liquidation, and as seen above, the Plaintiff and Chondong shall be deemed the date of liquidation. As seen above, the Plaintiff and Chondong shall actually exchange the stocks of this case and the 66,69,526,019 won, and the ○○○ Stocks of this case on October 5, 200, the transfer date of the stocks of this case shall be October 5, 200.

- Where a corporation exchanges its own shares with another person’s shares, the market price of the shares acquired as a result of the exchange should be deemed the transfer value of its shares. In calculating the transfer value of the shares of this case, each of the dispositions of this case did not follow the market price of the shares of this case acquired by the Plaintiff in return for the calculation of the transfer value of the shares of this case, and the market price of the shares transferred by the Plaintiff was the transfer value of the shares.

(3) Judgment on the Plaintiff’s assertion

The transfer date of the instant shares is October 5, 200. Since the market price of the instant shares at the time of the transfer is 258,000 won, based on the Plaintiff’s assertion that the transfer price of the instant shares should be calculated and that the corporate tax, etc. should be determined accordingly, it is reasonable to point out the Plaintiff’s claim on the transfer date of the instant shares. However, as seen above, the transfer price of the instant shares is not the market price at the time of the transfer date of the instant shares, but the market price at the time of the acquisition date of the portion of the instant shares (which is consistent with the transfer date of the instant shares) to acquire the instant shares in return for the transfer of the instant shares. Therefore, the Plaintiff’s above assertion is inappropriate (i.e., the court’s determination that each of the instant dispositions was unlawful, but the Defendant’s determination was maintained, and thus, decides the direction of the Plaintiff’s assertion to present the

(4) Sub-determination

Therefore, each of the dispositions of this case by the defendant is unlawful, and since the data submitted in the records and pleadings cannot be calculated on the sole basis, the whole of each of the dispositions of this case must be revoked.

3.In conclusion

Therefore, the plaintiff's claim of this case shall be accepted on the grounds of its reasoning, and it is so decided as per Disposition.