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Division of Assets; Levied taxes on Divorce cases?

The recent divorce verdict of SK Group's Chairman has garnered significant attention, raising questions about the tax implications of property division in such cases. Typically, there is no direct tax on the division of assets. However, for real estate, a special reduced acquisition tax rate may apply. Instead of the standard 3.5%, properties divided upon divorce can be taxed at a preferential rate of 1.5%.

This special tax rate is a relief for those who find themselves untangling their assets during a divorce, ensuring that the financial impact is not as hefty as it could be. It's like getting a discount coupon on a life-changing event – not the happiest occasion for discounts, but helpful nonetheless!


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