Laws › Income Tax Act › SECTION 10 Capital Gains Tax on Transfer of Overseas Assets

Income Tax Act — Article 118-5 (Tax Rate of Capital Gains from Overseas Assets)

소득세법 제118조의5

This English translation is based on the Korean text effective 2024-05-17. The Korean law has since been amended (current version effective 2026-07-01) — check the Korean original.

(1) The amount of income tax on capital gains generated from overseas assets shall be calculated by applying the tax rates set forth in Article 55 (1) to the tax base of capital gains for the relevant taxable period: <Amended by Act No. 12852, Dec. 23, 2014; Dec. 31, 2019>

1. Deleted; <Dec. 31, 2019>

2. Deleted; <Dec. 31, 2019>

3. Deleted. <by Act No. 15225, Dec. 19, 2017>

(2) Article 104 (4) shall apply mutatis mutandis to adjusting the tax rates under paragraph (1). <Amended by Act No. 14389, Dec. 20, 2016; Act No. 15225, Dec. 19, 2017; Dec. 31, 2019>[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009][Title Amended on Dec. 31, 2019]

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