(1) Any income attributable to trust property shall be deemed attributable to the beneficiary who shall receive the benefit of the trust (in the event of the beneficiary's death, his or her heirs).
(2) Notwithstanding paragraph (1), in the case of a trust in which the beneficiary is not specifically designated or does not exist, or in the case of a trust that meets the requirements prescribed by Presidential Decree, such as the trustor having actual control over the trust property, the income attributable to such trust property shall be deemed attributable to the trustor.[This Article Newly Inserted on Dec. 29, 2020]