(1) The terms used in this Act shall be defined as follows: <Amended by Act No. 10408, Dec. 27, 2010; Act No. 12852, Dec. 23, 2014; Act No. 16104, Dec.31, 2018>
1. The term "resident" means any individual who has his/her domicile or place of residence in the Republic of Korea for at least 183 days;
2. The term "nonresident" means any individual who is not a resident;
3. The term "domestic corporation" means any domestic corporation defined in subparagraph 1 of Article 2 of the Corporate Tax Act;
4. The term "foreign corporation" means any foreign corporation defined in subparagraph 3 of Article 2 of the Corporate Tax Act;
5. The term "business entity" means any resident who has business income.
(2) The classification of a domicile or place of residence and a resident or nonresident pursuant to paragraph (1) shall be prescribed by Presidential Decree.[This Article Newly Inserted by Act No. 9897, Dec. 31, 2009]