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1. The Defendant’s disposition of imposing gift tax amounting to KRW 1,287,902,50 against the Plaintiff on August 6, 2012 shall be revoked.
2...
Reasons
1. Details of the disposition;
A. B entered into a contract with C on May 22, 2007 to acquire 6,00 common shares (10% out of the total shares of oil construction) at a cost-based 5,000 shares per share (5,000 won on face value) and acquired the shares.
B. On September 30, 2010, the Plaintiff entered into a contract with B to purchase common shares of cost construction (hereinafter “instant shares”). The main contents are as follows.
1) Class of shares: The number of common shares 2: 10,000 won per share: 5,000 won per share transfer value: 5,000 won per share: 60,000 won per share transfer value: 50,000 won per share transfer value: 50,000 won transfer value per share: The price of shares traded shall be determined through consultation between the Plaintiff and B, and no objection shall be raised by the Plaintiff against the change in the price due to the potential risks set forth in the company after the date of the contract.
B. On September 30, 2010, the Plaintiff deposited KRW 50,000,000 to B on the date of concluding the contract, and completed the transfer of ownership.
C. The Defendant assessed the value of the instant shares as KRW 264,940 per share by applying the supplementary assessment method prescribed in Articles 54 and 56(1)1 of the Enforcement Decree of the Inheritance Tax and Gift Tax Act, and determined that the Plaintiff acquired the instant shares from B, which is a significantly lower price than the said value, at the value equivalent to the difference between the market price and the consideration, by applying Article 35(1)1 of the Inheritance Tax and Gift Tax Act on June 7, 2012, and notified the Plaintiff of KRW 1,056,86,70 per share.
Since then, the defendant issued a disposition of additional correction of KRW 263,473,050 on August 6, 2012 on the ground that the value per share from KRW 264,940 to KRW 312,90 on the ground of the occurrence of the difference in land appraisal for paid construction, and issued a disposition of additional correction of KRW 5,070,590 on November 23, 2012.
E. The Plaintiff appealed and raised an objection on September 3, 2012, and the Defendant ex officio.