Forced Inheritance Provision Ruled Unconstitutional: Tax Professional's Insights
Introduction: In a recent landmark decision, the Constitutional Court of South Korea has ruled the forced inheritance provision...
Key Points to Consider When Transferring Inherited Property
The taxation on housing transfer income can be as intricate as a labyrinth, leaving even tax experts scratching their heads. It's easy to...
"Mother, Reduced Gift Tax"... Son's Reason for Starting a Restaurant
In South Korea, tax laws often offer benefits or allow delayed payments in cases where policy support is deemed necessary. For instance,...
Deferred Payment for Inheritance Taxes: Up to 20 Years for Business Succession
Introduction: When receiving gifts or inheritance in Korea, individuals may face a tax ranging from 10% to a maximum of 50%. However, in...
In Korea, Will Gift Tax Be Imposed When Receiving Grandparental Support for University Tuition?
Introduction: A recent dilemma faced by Mr. A, a typical office worker, arose when his son entered law school. With Mr. A's income alone,...
Understanding the Implications of Korea's Financial Investment Income Tax (FIIT)
Introduction: As the deadline for the implementation of the Financial Investment Income Tax (FIIT) approaches, the Korean stock market...