(1) The calculated amount of global income tax on a resident whose global income includes the profit margin earned by trading an asset referred to in Article 104 (1) 1 (limited to a right to buy a house), 8, or 10 or any subparagraph of Article 104 (7) (hereafter referred to as "profit margin from trading houses, etc." in this Article) while engaging in a real estate trading business prescribed by Presidential Decree (hereinafter referred to as “real estate trading business”) (hereinafter referred to as "real estate broker"), shall be the greater of the following tax amounts: <Amended by Act No. 12852, Dec. 23, 2014; Act No. 15225, Dec. 19, 2017; Dec. 29, 2020>
1. The calculated taxes on global income;
2. The sum of the following tax amounts:(a) The total tax amount calculated by applying the tax rate specified in Article 104 to the profit margin from trading houses, etc.;(b) The amount of tax calculated by applying the tax rate specified in Article 55 to the tax base which is calculated by deducting the total profit margin from trading houses, etc. in the relevant taxable period from the global income tax base.
(2) Matters necessary to calculate profit margin from trading houses, etc. and calculated tax on other global income on a real estate broker, shall be prescribed by Presidential Decree.[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]