South Korea Assembly Considers Bill to Partially Amend Income Tax Act

The South Korean National Assembly Dec. 23 accepted for consideration Bill No. 2215520, to partially amend the Income Tax Act. The bill includes a measure to prohibit nonresident foreigners from claiming the individual income tax exemption on capital gains from the sale of residential property, except when necessary for implementing treaties under the Constitution and laws. The law would enter into force six months after promulgation. [South Korea, National Assembly, 12/23/25]

Reference:
View Text of Bill No. 2215520. View Legislative History of Bill No. 2215520. View Index.