South Korea Tax Agency Explains Amendments to Capital Gains Tax for Property Transactions

The South Korean National Tax Service June 18 explained amendments to capital gains taxes for property transactions. The explanation includes: 1) applicable tax rates for the sale or rental of residential properties under various circumstances; 2) a tax exemption for single homeowners with at least two years of residence; and 3) the rental and holding periods for the calculation of capital gains taxes. [South Korea, National Tax Service, 06/18/21]

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