(1) If a business entity with house rental income fails to apply for business registration under Article 168 (1) or (3) by the deadline set forth in the main clause of Article 8 (1) of the Value-Added Tax Act, it shall pay a penalty tax of 2/1000 of the amount of house rental income from the date of commencement of business to the day immediately preceding the date of application for registration, in addition to the final tax amount on global income for the relevant taxable period.
(2) The penalty tax mentioned in paragraph (1) shall be applied even when there is no calculated tax on global income.[This Article Newly Inserted on Dec. 31, 2019]