(1) Notwithstanding Article 127, no income tax shall be withheld from the income specified by Presidential Decree and disposed of as a bonus under Article 67 of the Corporate Tax Act for the representative, etc. of a corporation merged due to a cause that occurs before the commencement of proceedings for rehabilitation after its controlling shareholder is changed (hereafter referred to as “acquired” in this Article), such as merging with another corporation that is not a specially related person through proceedings for rehabilitation under the Debtor Rehabilitation and Bankruptcy Act.
(2) Other necessary matters regarding special cases concerning withholding of taxes from bonuses shall be prescribed by Presidential Decree.[This Article Newly Inserted by Act No. 12169, Jan. 1, 2014]