(1) Where a loss carried forward (excluding a loss carried forward which occurs in real estate leasing business; hereafter the same shall apply in this Article) in the relevant taxable period, as prescribed in Article 45 (3), occurs when a resident who operates a small or medium enterprise under Article 6 (1) of the Act on Restriction on Special Cases concerning Taxation calculates the amount of business income, he/she may claim a refund of the amount calculated, as prescribed by Presidential Decree (hereinafter referred to as "amount of loss carryback") within the limit of the final tax amount on global income levied on business income for such small or medium enterprise in the preceding taxable period. In such cases, when a loss is carried back in relation to loss carried forward pursuant to Article 45 (3), such loss carried forward shall be deemed deducted. <Amended on Dec. 31, 2019; Dec. 29, 2020>
(2) Any person who intends to claim a loss carryback refund shall file an application to the head of a tax office having jurisdiction over the place for tax payment, as prescribed by Presidential Decree, by the deadline for a final return on tax base pursuant to Article 70, 70-2 or 74. <Amended by Act No. 11611, Jan. 1, 2013>
(3) Where the head of a tax office having jurisdiction over the place for tax payment receives an application for refund of income tax pursuant to paragraph (2), he/she shall promptly determine the tax amount to be refunded and refund it pursuant to Articles 51 and 52 of the Framework Act on National Taxes.
(4) Paragraphs (1) through (3) shall apply only where the relevant resident files a return on the tax base and tax amount on the income for the taxable period in which a loss carried forward occurs and for the preceding taxable period respectively by the deadline for a final return on tax base pursuant to Article 70, 70-2 or 74. <Amended by Act No. 11611, Jan. 1, 2013>
(5) Where a person who has been refunded the income tax pursuant to paragraph (3) falls under any of the following, the head of the tax office having jurisdiction over the place for tax payment shall collect the amount of such refunding tax (in cases falling under subparagraphs 1 and 2, referring to the amount equivalent to the tax amount excessively refunded) and the interest thereon as income tax for the taxable period in which such loss carried forward occurred, as prescribed by Presidential Decree: <Amended by Act No. 11146, Jan. 1, 2012; Act No. 11611, Jan. 1, 2013; Dec. 31, 2019>
1. Where the amount of loss carried forward is reduced after rectifying the tax base and amount of an income tax for the tax period in which the amount of loss occurred;
2. Where the refunded tax amount is decreased by rectifying the tax base of global income and the tax amount for the taxable period immediately preceding the taxable period in which the amount of loss occurs;
3. Where a person has been refunded without satisfying the requirements for the small and medium enterprise under paragraph (1).
(6) Calculation of the amount of tax to be refunded by the retroactive deduction of a loss, procedures for application therefor and other necessary matters shall be prescribed by Presidential Decree.[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009][Title Amended on Dec. 31, 2019]