Samsung Securities Launches Overseas Stock Capital Gains Tax Filing Service

Samsung Securities announced on the 8th that it will implement a tax filing agency service for overseas stock capital gains tax attributable to 2024.

This service is available to customers whose capital gains from overseas stock transactions through Samsung Securities last year exceeded 2.5 million KRW. It is designed to reduce the hassle of tax filing and help ensure accurate and prompt reporting. The capital gains tax filing agency service can be applied for until the 11th of this month.

Since overseas stock capital gains tax is not withheld at source, investors must file their taxes directly every May. A tax rate of 22% (including local tax) is applied to the amount after deducting the basic exemption of 2.5 million KRW from the capital gains. However, handling the entire process, including exchange rate application and calculation of trading gains, is not easy, so demand for related services has steadily increased every year.

This filing agency service is conducted through Samsung Securities’ affiliated tax firms, and customers who wish to use the overseas stock capital gains tax agency service can easily apply via Samsung Securities mPOP, the website, or by visiting a branch. Any eligible customer can apply free of charge. If there are transaction records from other securities firms, submitting them together allows for consolidated reporting.

A Samsung Securities representative said, “As overseas stock investment experience increases, customer needs related to tax filing are also growing,” adding, “We provide this service to reduce customers’ tax filing burdens and to simplify the procedures.”

In addition, Samsung Securities is running an event until the end of this month that supports up to 100 USD for new customers or customers who have not had overseas stock trading experience from January 1, 2020, to the end of last month.