(1) Where the head of the tax office having jurisdiction over the place of tax payment or the commissioner of the competent regional tax office deems that the tax burden of a domestic corporation has been unjustly reduced through the wrongful calculation of the amount of income of the domestic corporation in transactions with a related party, he or she shall calculate the amount of income for each business year of the domestic corporation regardless of the wrongful calculation of the amount of income of such domestic corporation (hereinafter referred to as "wrongful calculation"). <Amended on Dec. 31, 2011; Dec. 24, 2018>
(2) In applying paragraph (1), the standards for determination shall be sound social norms, generally-accepted trade practices, and the prices applied or acknowledged to be applied to arm's length transactions between persons, other than related parties (including premium rates, interest rates, rents, exchange rates, and other corresponding rates; hereinafter referred to as "market price"). <Amended on Dec. 31, 2011; Dec. 24, 2018>
(3) A domestic corporation shall submit a detailed statement on the particulars of transactions with each related party for each business year to the head of the tax office having jurisdiction over the place of tax payment, as prescribed by Presidential Decree. <Amended on Dec. 31, 2011; Dec. 24, 2018>
(4) In applying paragraphs (1) through (3), matters necessary for the types of wrongful calculation, the assessment of market prices, and other matters shall be prescribed by Presidential Decree. <Amended on Dec. 24, 2018>[This Article Wholly Amended on Dec. 30, 2010]