(1) A real estate broker shall file a return on profit margin from trading land or buildings (hereinafter referred to as "land, etc.") and the amount of tax thereon with the head of a tax office having jurisdiction over the place for tax payment by the date arriving two months from the end of the month in which the trading date falls, as prescribed by Presidential Decree. The same shall also apply where there is no profit margin from trading land, etc. or any trading loss occurs.
(2) A return under paragraph (1) shall be referred to as "preliminary return on profit margin from sale and purchase of land, etc."(3) The calculated tax on a real estate broker's profit margin from sale and purchase of land, etc. shall be calculated by multiplying the amount obtained by deducting necessary expenses calculated by applying Article 97mutatis mutandis, from the value of trade, by tax rates prescribed in Article 104: Provided, That notwithstanding Article 104 (1) 2 and 3, if the holding period of land, etc. is less than two years, the calculated tax shall be computed by multiplying the amount obtained as stated above by the tax rate pursuant to subparagraph 1 of the same paragraph. <Amended by Act No. 12169, Jan. 1, 2014>
(4) A real estate broker shall pay the tax calculated pursuant to paragraph (3) until the deadline for preliminary return on sales profit margin under paragraph (1) to the tax office having jurisdiction over the place for tax payment, the Bank of Korea, or a postal service office, as prescribed by Presidential Decree. <Newly Inserted by Act No. 11611, Jan. 1, 2013>
(5) Articles 107 (2), 114, and 114-2 shall apply mutatis mutandis to the calculation, determination, and correction of the calculated tax on profit margin from sale and purchase of land, etc. and the penalty tax on the application of a converted acquisition value (refering to the value converted from the actual transaction value, sales case value, or appraised value in accordance with the method prescribed by Presidential Decree; the same shall also apply in Articles 97 (1) and (2), 100 (1), 114 (7), and 114-2). <Amended by Act No. 11611, Jan. 1, 2013; Act No. 15225, Dec. 19, 2017; Dec. 31, 2019; Dec. 29, 2020>
(6) Necessary matters concerning calculation of a profit margin from transacting land, etc. and the amount of tax thereon shall be prescribed by Presidential Decree. <Amended by Act No. 11611, Jan. 1, 2013>[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]