South Korea Tax Agency Posts Guidelines on 2023 Capital Gains Tax Return Filing, Payment

The South Korean National Tax Service May 1 posted guidelines on capital gains tax return filing and payment. Topics covered include: 1) the May 31 declaration and payment deadline for capital gains tax attributable to 2023 for taxpayers required to report or further report, and the July 31 deadline to pay a second installment if the tax exceeds 10 million South Korean won (US$7,276); 2) deductions allowed for losses from overseas stock transfers; 3) e-reporting and payment procedures, with examples; 4) the non-filing penalty of 20 percent, and late payment penalty of 0.022 percent per day; 5) the final tax ...