Suwon District Court 2012Guhap4383 (O1, 2013)

National High Court Decision 2012J 2735 (Law No. 29, 2012)

It is difficult to deem that foreign currency exchange profits and losses constitute special profits and losses under the corporate accounting standards.

In the case of the interpretation of corporate accounting standards, it is difficult to deem that the foreign currency exchange profit or loss of this case constitutes a special profit or loss under the corporate accounting standards in light of the fact that the profit or loss on the conversion of foreign currency assets should be classified as ordinary profit or loss.

Article 63 of the Inheritance Tax and Gift Tax Act;

2013Nu22132 Revocation of Disposition of Imposing gift tax

AAAA

Head of the Pakistan Tax Office

Suwon District Court Decision 2012Guhap4383 Decided November 1, 2016

on October 08, 2014

The appeal is dismissed.

Expenses for appeal shall be borne by the plaintiff.

The reasons for this court's decision are as follows: (a) adding "the foreign currency converted profit and loss was included in the profit and loss from the foreign currency from January 1, 2005 to December 31, 2007 under the standard profit and loss statement (Evidence A5-2)" to the court of first instance; and (b) therefore, it is identical to the reasons for the court of first instance to refer to Article 8(2) of the Administrative Litigation Act and the main sentence of Article 420 of the Civil Procedure Act.

The judgment of the first instance is justifiable, and the appeal filed by the plaintiff is dismissed.