The National Tax Service announced on the 5th that individuals who transferred domestic stocks in the second half of last year (July to December) and are subject to taxation must file and pay the capital gains tax on stock transfers by the 28th.
The filing subjects include major shareholders who transferred listed stocks, small shareholders who traded listed stocks over-the-counter, and shareholders who transferred unlisted stocks. Major shareholders of listed companies are defined as those with a stake of 1% (KOSPI), 2% (KOSDAQ), or 4% (KONEX) or more, or a market capitalization of 5 billion KRW or more.
From the 5th, the National Tax Service will send mobile notifications to major shareholders of listed companies among those required to file provisional reports, as well as shareholders who traded on K-OTC, the unlisted stock trading market operated by the Korea Financial Investment Association. If the mobile notification cannot be received due to refusal or failure to send, guidance will be provided by mail (on February 11).
Starting with this provisional report, a 'Load Transfer Details' function has been newly added to the Hometax filing screen, supporting a 'Pre-fill Service' that automatically fills in six required input fields when the loaded details are clicked. Additionally, by providing helpful materials related to small and medium enterprises, listed stocks, and major shareholders, taxpayers can easily select the complicated capital gains tax rates through a 'Tax Rate Selection Assistant' that automatically applies the tax rate when the relevant option is chosen.
A National Tax Service official said, "The provided helpful materials are for reference to facilitate taxpayer filing, so please verify and select carefully when filing." He added, "In cases of non-reporting or underreporting, penalties such as additional taxes may apply, so please recognize that 'faithful reporting is the best tax saving' and file sincerely."
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