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

The South Korean National Tax Service May 4 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 2022 for taxpayers without a preliminary reporting obligation; 2) deductions allowed for losses from overseas stock transfer; 3) e-reporting and payment procedures, with examples; 4) a tax penalty of up to 40 percent on non-reporting of capital gains; 5) the final tax return calculation, with examples; and 6) progressive tax rates from 6 percent to 45 percent on capital gains. [South Korea, National Tax Service, ...