Income Tax Act — Article 174 (Submission of Materials for Payment of Insurance Payment on Loss)

When any non-life insurance company under the Insurance Business Act (hereafter referred to as "non-life insurance company" in this Article) has paid insurance as a result of a lawsuit, it shall submit the materials for the relevant insurance payment on loss, as prescribed by Presidential Decree, to the head of a tax office having jurisdiction over the non-life insurance company by no later than the end of February of the year following the taxable period in which the date of payment falls.[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]