(1) In calculating gains on transfer, if the transfer value is based on the actual transaction value (if the value described in Article 96 (3), or the sales case value or the appraised value applies pursuant to Article 114 (7), including such sales case value, appraised value, etc.), the acquisition value shall also be based on the actual trading price (if the value described in Article 97 (7), or the sales case value, the appraised value, or the converted acquisition value applies pursuant to Article 114 (7), including such sales case value, appraised value, converted acquisition value, etc.) and, if the acquisition value is based on the assessed value, the acquisition value shall also be based on the assessed value. <Amended on Dec. 31, 2019>
(2) In applying paragraph (1), where the transfer value or the acquisition value is assessed, based on the actual trading price, and land, buildings, etc. are acquired or transferred simultaneously, the value of land and that of buildings, etc. shall be entered in a book separately, however, if the distinction between the value of land and that of buildings, etc. is obscure, their values shall be apportioned, as prescribed by Presidential Decree, taking into account their assessed values, etc. at the time of acquisition or transfer. In such cases, the common acquisition value and transfer expenses shall be calculated on a proportional basis of the separate values of the relevant assets.
(3) For the purpose of applying paragraph (2), where land and a building, etc. are acquired or transferred simultaneously, if the value of the land and the building, etc. separately entered in a book of accounts is different, by not less than 30/100, from the value calculated separately, the distinction between the value of land and that of buildings, etc. shall be deemed obscure. <Newly Inserted by Act No. 13558, Dec. 15, 2015>
(4) Matters necessary for calculating gains on transfer shall be prescribed by Presidential Decree.[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]