2024.08.08. The Fair Economy — The National Tax Service said on the 7th that individuals who transferred shares in the first half of this year and are subject to capital gains tax must file and pay the stock capital gains tax by September 2.
All shareholders are required to file, except for small investors trading listed stocks in the market and small investors trading shares of small and medium-sized enterprises on the K-OTC market.
Starting with this preliminary return (for transfers made on or after January 1, 2024), the market capitalization threshold for major shareholders changes to 5 billion won, so caution is needed when determining major shareholder status.
Also, shareholders with a stake of 1% or more (KOSPI), 2% or more (KOSDAQ), or 4% or more (KONEX), or with a market capitalization of 5 billion won or more, are classified as major shareholders of listed stock corporations and are subject to the reporting obligation.
Starting on the 7th, the National Tax Service will send mobile and postal notices to major shareholders of listed corporations and K-OTC market shareholders who are subject to the preliminary return, to facilitate filing.
In addition, to make it easier for taxpayers to select the complex transfer tax rate when filing, a 'Tax Rate Selection Helper' service has been newly added to the Hometax filing screen.
The service provides reference materials for four items that determine asset type and tax rate. Taxpayers can select whether they fall under each item based on these materials, after which the applicable tax rate is automatically applied.
In addition, to help taxpayers file on their own through Hometax, the National Tax Service produced, for the first time, a guide video covering the entire process from entering to submitting the return. It covers the profit-and-loss offsetting method, which taxpayers may find difficult when filing, and how to use the newly introduced 'Tax Rate Selection Helper.'
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