(1) If a business entity subject to confirmation of compliant filing fails to submit a certificate of confirmation of compliant filing to the head of the tax office with jurisdiction over the place for tax payment by June 30 of the year following the relevant taxable period under Article 70-2 (2), it shall pay the greater of the following amounts as an penalty tax in addition to the final tax amount on global income for the relevant taxable period: <Amended on Dec. 8, 2021>
1. The amount calculated according to the following formula (if the proportion of its business income to its global income is greater than 1, it is equal to 1; if it is less than 0, it is equal to 0):Penalty tax = A × B/C × 5/100A: Amount of calculated tax on global income;B: Amount of business income;C: Amount of global income2. The total amount of its gross earnings from business income for the relevant taxable period multiplied by 2/10000.
(2) For the purpose of applying paragraph (1), if the amount of calculated tax on global income becomes greater than zero due to a correction under Article 80, the penalty tax shall be calculated based on the amount of calculated tax on global income so corrected.
(3) The penalty tax mentioned in paragraph (1) shall be applied even when there is no calculated tax on global income. <Newly Inserted on Dec. 8, 2021>