Western 46014-1010 ( August 28, 2001)

Transfer

Where there is no officially assessed individual land price publicly notified at the time of transfer for the land concerned by dividing it into two or more lots (including the case of a division and a simultaneous change of land category), it will be based on the appraised value by the head of tax office having jurisdiction over

In the case of E-Question, the reference time is to refer to the inquiry, reply and inquiry (46014-2613, Nov. 05, 1997, and the national trial 2000, 914, 200.07.24).* if the transfer margin from the transfer of land is calculated based on the standard market price at again 46014-2613, Nov. 05, 1997, the transfer value to be applied shall be based on the officially assessed individual land price under the Act on the Public Notice of Land Prices at the time of transfer, etc. at the time of transfer, and if there is no officially assessed individual land price at the time of transfer for one parcel by dividing it into two or more lots (including the case of a concurrent land category change), the transfer value to be applied shall be based on the value assessed by the chief of the district tax office having jurisdiction over the place of tax payment under the proviso of Article 99 (1) 1 (a) of the Income Tax Act and Article

【Calculation of Standard Market Price】

1. A summary of the contents of inquiry;

The method of calculating the transfer value where there exists no officially assessed individual land price as of the date of transfer since the officially assessed individual land price was not publicly announced as to the land divided as of July 20, 201, which was divided into four parcels as of July 16, 2001.

2. Materials on the contents of questioning;

(a) relevant tax laws and regulations (law, enforcement decree, enforcement rule, basic rules);

○ Article 99 of the Income Tax Act 【Calculation of Standard Market Price】

(1) The standard market price pursuant to the main sentence of Article 96 (1), the main sentence of Article 97 (1) 1 (a), Articles 100 and 114 (5) shall be as follows:

1. Land or buildings under Article 94 (1) 1 (amended on December 29, 200);

(a) Earth (amended on December 29, 195; Addenda to the Act on Publication of Land Prices and Evaluation of Land, etc.);

The officially assessed individual land price under the Act on the Public Notice of Land Price and the Evaluation of Land, etc. (hereinafter referred to as the "individual land price"): Provided, That the price of the land on which no officially assessed individual land price exists shall be the amount appraised by the method as determined by the Presidential Decree in consideration of the publicly assessed individual land price of neighboring similar land, and in the areas as determined by the Presidential Decree

Not more than 10

○ Article 164 【Assessment of Standard Market Price of Land and Building】

(1) For the purpose of the proviso of Article 99 (1) 1 (a) of the Act, the term “amount appraised by such method as prescribed by the Presidential Decree” means the amount appraised by the head of the tax office having jurisdiction over the place of tax payment (where there is a difference between the head of the tax office having jurisdiction over the place of tax payment and the head of the tax office having jurisdiction over the location of the relevant land, respectively) pursuant to the comparative table under Article 10 (2) of the Act on Public Notice of Land Price and Evaluation of Land, etc. by deeming neighboring land whose land price formation factors are similar, such as the land without a publicly assessed individual land price falling under any of the following subparagraphs and the land category and utilization status, etc., as the reference land price. In this case,

1. Newly registered land under the Cadastral Act (No. 31 December 31, 1997);

2. Any land whose lot number is newly granted due to a partition under the Cadastral Act (No. 31 December 31, 1997);

3. Any land merged under the Cadastral Act (No. 31 December 31, 1997);

4. Land (including State-owned and public land) for which a determination and public announcement of the officially assessed individual land price are omitted (it shall be December 31, 1997);

(b) Similar cases (judicial precedents, judicial precedents, review precedents, and established rules);

○ Japan 46014-2613 ( November 05, 1997)

Where calculating gains on transfer from the transfer of land based on the standard market price, the transfer value shall be based on the officially assessed individual land price under the Act on the Public Notice of Land Prices at the time of transfer and the Evaluation of Land, etc., and where there exists no publicly notified individual land price at the time of transfer for the relevant land because one parcel is divided into two or more parcels (including the case of simultaneous change of land category), it shall be based on the values appraised by the head of tax office having jurisdiction over the place of tax payment under the proviso of Article 99 (1)

○ High Court Decision 2000Du914 (Law No. 24, 2000)

A. In light of the above contents, since the land at issue was transferred before the new individual land price was publicly announced after the division and the divided land was not identical to the land’s characteristics such as the degree of land use and economic value before the division, it is unreasonable for the disposal agency to calculate the transfer value of the land at issue by applying the officially assessed land price at the maternity prior to the division. Thus, it is reasonable to levy the value assessed on the basis of the officially assessed individual land price of neighboring land whose land price formation factors such as the key land and land category and use status are similar under the proviso of Article 9(1)1 (a) of the Income Tax Act and Article 164(1) of the Enforcement Decree of the same Act.