[Asia Economy Reporter Kwon Jaehee] KB Securities announced on the 7th that it will provide a free overseas stock capital gains tax filing service for individual customers with overseas stock capital gains exceeding 2.5 million KRW last year.
Overseas stock capital gains tax is imposed when the total profit or loss from overseas stock trading in a year exceeds the basic deduction amount of 2.5 million KRW. Last year, significant trading gains were estimated in top investment stocks such as Tesla and Apple, leading to an expected substantial increase in taxpayers liable for capital gains tax.
KB Securities' free overseas stock capital gains tax filing service can be applied for at branches, the mobile trading systems 'M-able (Mabeul)', 'M-able mini (Mabeul Mini)', and the HTS 'H-able'. The application period is until April 30, and when applying, accounts held at other securities firms can also be reported together.
Especially this year, to enhance customer convenience, an alert talk function has been added to the payment notice receipt method, allowing customers to receive guidance on the entire process from filing application acceptance by the affiliated tax corporation to payment notice receipt via mobile alert talk or LMS.
Meanwhile, KB Securities is providing an overseas stock collateral loan service in line with the increase in overseas stock investors. Collateral loans are available for about 4,300 overseas stocks (approximately 2,100 US stocks, 1,000 Chinese stocks, 400 Hong Kong stocks, and 800 Japanese stocks), and any KB Securities customer can apply for a loan within a basic limit of 1 billion KRW based on stock valuation.
Overseas stock collateral loans can be contracted and applied for not only at KB Securities branches but also through the MTS M-able (Mabeul) and HTS H-able (Heibeul), similar to domestic stock collateral loans. Preferential interest rate benefits are also provided according to customer grade for excellent customers of KB Financial Group.
Lee Honggu, Head of WM Sales Division, stated that they plan to continuously expand various services so that more overseas stock investors can feel convenience throughout the entire process from starting overseas stock investment to tax payment through KB Securities.
Stock investment carries the risk of principal loss, and in the case of overseas stocks, losses due to exchange rate fluctuations may occur. For more details, please contact the KB Securities website or customer center.
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