(1) Where a nonresident with no domestic place of business meets the taxation requirements prescribed in a tax treaty by transferring stocks or investment shares of the same domestic corporation on two or more occasions in the same taxable period of business (referring to the taxable period of business of the domestic corporation that issued the relevant stocks or investment shares), he/she shall file a tax return and pay the amount equivalent to the amount of a withholding tax on income which has not been withheld at the time of transfer to the head of a tax office having jurisdiction over the place for tax payment within three months from the end of the business year to which the date of transfer belongs, as prescribed by Presidential Decree.
(2) Paragraph (1) shall also apply mutatis mutandis to income of a nonresident with a domestic place of business not substantially related to or not belonging to his/her domestic place of business as income which has not been withheld at the time of his/her transfer.
(3) Where a nonresident with no domestic place of business transfers the stocks, investment shares, or other securities prescribed by Presidential Decree (hereafter referred to as "stocks, etc." in this paragraph) to any other nonresident or foreign corporation with no domestic place of business, and if prescribed by Presidential Decree, he/she shall report and pay the amount calculated by multiplying the amount of income generated from such transfer by the ratio under Article 156 (1) 7 to the head of a tax office having jurisdiction over the place for tax payment, as prescribed by Presidential Decree, until the 10th day of the second month following the month to which the date of receipt of such amount belongs: Provided, That this shall not apply where a person who pays income from transfer of stocks, etc. has paid the income tax withheld from domestic source income, such as stocks, etc. of the relevant nonresident pursuant to Article 156. <Amended by Act No. 16104, Dec. 31, 2018>
(4) Where a nonresident fails to file a return or make a payment pursuant to paragraphs (1) through (3), under-reports below the tax base, or pays less than the tax payable, the head of a tax office having jurisdiction over the place for tax payment shall collect the relevant tax by applying Article 80mutatis mutandis.[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]