Korea

Details

  • Service: Tax
  • Type: KPMG information, Press release
  • Date: 1/3/2013

Tax Brief 2012 December 

 
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I. Tax Trend
The government decides on Local Tax Act amendments

 

II. Recent Tax Court Cases and Rulings
(1) Whether VAT is chargeable in a case of free use of a real
property after bearing costs of remodeling that real property
(Bubkyubuga2012-390, 2012.11.01)
(2) Whether Securities Transaction Tax is chargeable in
the event that stock securities are transferred during an
absorbing merger (Sobi-361, 2012.10.30)
(3) Whether VAT is exempt in a case where research service
fees include costs incurred due to opening a seminar
(Bubkyubuga 2012-406, 2012.10.31)
(4) Whether a deposit of a bank adopting K-IFRS is eligible for
bad debt provision for tax purpose (Bubin-636, 2012.10.19)

 

III. Tax Topic
1. Summary
2. Income subject to the application
(1) Gains from stock transfer
(2) Dividend income
3. Methods of Investment
4. Calculation Methodology
(1) Stock transfer gain
(2) Dividend income