INCOME TAX ACT

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INCOME TAX ACT — 법갈피

Article 7(Place for Tax Payment in Cases of Withholding, etc.) #

(1) The place for payment of income tax withheld shall be as follows: <Amended by Act No. 11146, Jan. 1, 2012>

1. Where a withholding agent is a resident: It shall be the seat of his/her principal place of business: Provided, That where he/she deducts withholding tax at a place of business, other than the principal place of business, it shall be the seat of such place of business, and where he/she has no place of business, it shall be the place of his/her domicile or the place of his/her residence;

2. Where a withholding agent is a nonresident: It shall be the seat of his/her principal place of business in the Republic of Korea: Provided, That where he/she deducts withholding tax at a place of business in the Republic of Korea, other than his/her principal place of business in the Republic of Korea, it shall be the seat of such place of business in the Republic of Korea, and where he/she has no place of business in the Republic of Korea, it shall be his/her place of settlement or his/her place of sojourn;

3. Where a withholding agent is a corporation: It shall be the seat of the head office or the principal office of such corporation;

4. Where a withholding agent is a corporation, and a branch, place of business or any other place of business of such corporation independently manages the accounting affairs according to a self-financing system: Notwithstanding subparagraph 3, it shall be the seat of such place of business (excluding cases where the seat of such place of business is located in a foreign country): Provided, That, in cases prescribed by Presidential Decree, the seat of the head office or the principal office of such corporation may be the place for payment of the income tax withheld;

5. Where a withholding agent under Articles 156 and 156-3 through 156-6 has no place for tax payment prescribed in subparagraphs 1 through 4: It shall be the place prescribed by Presidential Decree.

(2) The place for payment of income tax collected by a taxpayers association pursuant to Article 150 shall be the seat of the relevant taxpayers association.

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

Article 12(Non-Taxable Income) #

No income tax shall be levied on the following income: <Amended by Act No. 10408, Dec. 27, 2010; Act No. 10907, Jul. 25, 2011; Act No. 10924, Jul. 25, 2011; Act No. 11042, Sep. 15, 2011; Act No. 11274, Feb. 1, 2012; Act No. 11611, Jan. 1, 2013; Act No. 11652, Mar. 22, 2013; Act No. 12169, Jan. 1, 2014; Act No. 12420, Mar. 18, 2014; Act No. 12852, Dec. 23, 2014; Act No. 13558, Dec. 15, 2015; Act No. 14389, Dec. 20, 2016; Act No. 15522. Mar. 20, 2018; Act No. Act No. 16104, Dec. 31, 2018; Dec. 10, 2019; Dec. 31, 2019; Jun. 9, 2020; Dec. 29, 2020; Aug. 12. 2022; Dec. 31, 2022; Aug. 8, 2023>

1. Profits of a public trust under Article 106 of the Public Trust Act;

2. Any of the following business income:

(a) Income generated by having a person utilize a paddy field or a dry field for the production of crops;

(b) House rental income of a person who owns only one house (excluding rental income from a house whose assessed value under Article 99 exceeds 900 million won and from a house located overseas) or of a person the total amount of whose gross earnings specified by Presidential Decree during the relevant taxable period does not exceed 20 million won (limited to the income accruing until the taxable period that ends on or before December 31, 2018). In such cases, necessary matters concerning calculation of the number of houses, computation of the house rental income, etc. shall be prescribed by Presidential Decree;

(d) Income generated from manufacturing traditional liquor prescribed by Presidential Decree;

(e) An amount not exceeding six million won a year, generated from felling or transferring forest trees in forest land, the afforestation period of which is at least five years. In such cases, necessary matters, such as the afforestation period and the calculation of the amount of tax, shall be prescribed by Presidential Decree;

(f) Income generated from business of cultivating plants prescribed by Presidential Decree;

(g) Income generated from fishing business prescribed by Presidential Decree;

3. Any of the following wage and salary income or retirement income:

(a) Pay received by a soldier in service prescribed by Presidential Decree;

(b) Pay received by a person mobilized according to Acts, from the place of work which mobilizes him/her;

(c) A medical care benefit, business suspension benefit, disability benefit, nursing benefit, survivors' benefit, special survivors' benefit, special disability benefit, funeral expenses received by a beneficiary under the Industrial Accident Compensation Insurance Act, or a benefit in the nature of compensation, reparation, or consolation received by an employee or his/her survivors in connection with any injury, disease, or death due to the provision of labor;

(d) Compensation for medical treatment, compensation for business suspension, compensation for injury or disease, lump sum compensation, compensation for disability, compensation for bereaved families, compensation for missing, compensation for loss of personal belongings, funeral expenses, and funeral service expenses received by an employee, seaman, or his/her survivors under the Labor Standards Act or the Seafarers’ Act;

(e) An unemployment benefit, childcare leave benefit, benefits for reduction of working hours during period of infant care, maternity leave benefit, etc. received under the Employment Insurance Act, support funds for a change of occupation under the Support for Discharged Soldiers Act, and a childcare leave allowance received by a public official under the State Public Officials Act or the Local Public Officials Act or by a person governed by the Pension for Private School Teachers and Staff Act or the Special Post Offices Act pursuant to the relevant Acts and subordinate statutes;

(f) A lump sum allowance of refund (only applicable to that received due to death) or a lump sum allowance for death received under the National Pension Act;

(g) Medical treatment expenses for a reason of official duties, medical treatment benefits, a lump-sum payment for permanent disability, a lump-sum payment for permanent disability unrelated to than official duties, a lump-sum payment for permanent disability unrelated to duties, compensations for disability, condolence money, compensations for death, a lump sum allowance for the bereaved family, a lump sum allowance for the bereaved family of a retired person, a lump sum of pension for the bereaved family, a lump sum of pension for the bereaved family of a retired persons, a lump-sum veteran's pension for survivors, a survivor’s lump-sum pension for line-of-duty death, additional money to pension for the bereaved family, additional money to pension for the bereaved family of a retired person, an additional payment to veteran's pension for survivors, special additional money to pension for the bereaved family, special additional money to pension for the bereaved family of a retired person, a special additional payment to veteran's pension for survivors, compensations for the bereaved family of a person who died in the course of performing duties, compensations for the bereaved family of a person who died in relation to duties, compensations for the bereaved family of a person who died in the course of performing dangerous duties, aid money for a disaster, aid money for an accident received under the Public Officials Pension Act, the Public Officials' Accident Compensation Act, the Military Pension Act, the Military Accident Compensation Act, the Pension for Private School Teachers and Staff Act, or the Special Post Offices Act, or other benefits received for a period of a leave of absence taken due to any physical or mental disability or disease;

(h) School expenses prescribed by Presidential Decree;

(i) Pay in the nature of reimbursement for actual expenses prescribed by Presidential Decree;

(j) A salary received by a person prescribed by Presidential Decree, who works for a foreign government (including a local government of a foreign country, and a state government of a foreign country which is a federal state; hereinafter the same shall apply) or an international organization prescribed by Presidential Decree: Provided, That this shall only apply where the relevant foreign government does not levy income tax on a salary of a public official of the Republic of Korea who works in that country;

(k) Veteran payments and educational subsidies received under the Act on the Honorable Treatment of and Support for Persons, etc. of Distinguished Services to the State or the Act on Support for Persons Eligible for Veteran’s Compensation;

(l) Pension received under the Honorable Treatment of Ex-Presidents Act;

(m) Pay received by military personnel or a civilian worker in the military stationed in a foreign country to perform any mission operations;

(n) Where military personnel or a civilian worker in the military who serves in a war dies in the line of duty (including death caused by any war wound; hereinafter the same shall apply), pay for the taxable period to which the date he/she dies belongs;

(o) Wages prescribed by Presidential Decree received for service furnished abroad or in North Korea under the Inter-Korean Exchange and Cooperation Act;

(p) Insurance premium borne by the State, a local government, or an employer under the National Health Insurance Act, the Employment Insurance Act, or the Long-Term Care Insurance Act;

(q) An allowance received by a worker prescribed by Presidential Decree in consideration of the level of wages, categories of work, etc., who engages in production and work related thereto, for overtime work, night-shift work, or holiday work prescribed by Presidential Decree;

(r) Meals or other food provided to a worker through an in-house cafeteria or similar method, or meal allowances of 200,000 won or less per month received by a worker (limited to workers not provided with meals or other food);

(s) The amount of money not exceeding 100,000 won a month, as an allowance received from an employer in connection with childbirth of a worker or a spouse of a worker or childcare of a child of six years old and under (to be determined based on the date of commencement of the relevant taxable period);

(t) Pay and a lump sum allowance for retirement received by a prisoner of war of the ROK Armed Forces under the Act on the Repatriation, Treatment of the Republic of Korea Armed Forces Prisoners of War;

(u) Scholarship received for labor rendered by undergraduate students, among scholarship received pursuant to Article 28 (1) of the Framework Act on Education (limited to undergraduate students attending a university specified in subparagraphs 1 through 4 of Article 2 of the Higher Education Act);

(v) The following compensations given in the amount specified by Presidential Decree for an employee's invention defined in subparagraph 2 of Article 2 of the Invention Promotion Act (hereinafter referred to as “compensation for employee’s invention”):

(i) A compensation that an employee or any of other persons specified in subparagraph 2 of Article 2 of the Invention Promotion Act (hereafter referred to as "employee, etc." in this Article and Articles 20 and 21) receives from the employer or any of the other persons specified in the same subparagraph;

(ii) A compensation that a faculty or employee of a university or a student having an employment relationship with a university receives from the industry-academic cooperation foundation established in the university (hereinafter referred to as “industry-academic cooperation foundation” in this Article) under Article 25 of the Industrial Education Enhancement and Industry-Academia-Research Cooperation Promotion Act pursuant to Article 32 (1) 4 of the same Act;

(w) An allowance of a benefit nature as prescribed by Presidential Decree;

4. Any of the following pension income:

(a) A pension for the bereaved family, a pension for the bereaved family of a retired person, a veteran’s pension for surviviors, a pension for the bereaved family of a person with permanent disability, a survivor’s disability pension, a pension for the bereaved family of a person who died in the course of performing official duties, a pension for the bereaved family of a person who died in relation to duties, a pension for the bereaved family of a person who died in the course of performing dangerous duties, a pension for a person with disability, a pension for a person with permanent disability, a pension for a person with permanent disability unrelated to official duties, a pension for a person with permanent disability unrelated to duties, a pension for wounds, a linked old-age pension for the bereaved family, or a linked pension for the bereaved family of a retired person received under the National Pension Act, the Public Officials Pension Act or the Public Officials' Accident Compensation Act, the Military Pension Act, the Military Accident Compensation Act, the Pension for Private School Teachers and Staff Act, the Special Post Offices Act, or the Act on Aggregation of National Pension and Occupational Pensions (hereinafter referred to as “public pension-related Acts”);

(b) Deleted; <by Act No. 11611, Jan. 1, 2013>

(d) A pension received by a prisoner of war of the ROK Armed Forces under the Act on the Repatriation, Treatment of the Republic of Korea Armed Forces Prisoners of War;

(e) Deleted; <by Act No. 11611, Jan. 1, 2013>

5. Other income falling under any of the following:

(a) Veteran payments and educational subsidies received under the Act on the Honorable Treatment of and Support for Persons, etc. of Distinguished Services to the State or the Act on Support for Persons Eligible for Veteran’s Compensation, and settlement money, compensation, and other money and valuables received under the North Korean Refugees Protection and Settlement Support Act;

(b) A reward and compensation received under the National Security Act;

(c) Supplementary prizes received in connection with any decoration under the Awards and Decorations Act, and other prizes and supplementary prizes prescribed by Presidential Decree;

(d) The amount specified by Presidential Decree for a compensation for employee’s invention that an employee, etc. or a faculty or employee of a university is entitled to receive after retirement or resignation, or that a student of a university is entitled to receive from the industry-academic cooperation foundation established under his or her affiliated university;

(e) Consolatory payments and other money and valuables received by a prisoner of war of the ROK Armed Forces under the Act on the Repatriation, Treatment of the Republic of Korea Armed Forces Prisoners of War;

(f) Income generated from transfer of paintings, calligraphic works, or antiques designated as State-designated cultural heritage under the Act on Preservation and Utilization of Cultural Heritage;

(g) Income generated from transfer of paintings, calligraphic works, or antiques to a museum or a gallery;

(h) The following income, out of income of a religious person referred to in Article 21 (1) 26:

(i) School expenses specified by Presidential Decree as those paid to religion-related workers according to the Korean Standard Classification of Occupations publicly announced by the Commissioner of the Statistics Korea under Article 22 of the Statistics Act (hereinafter referred to as "religion-related worker");

(ii) Meals or meal allowances specified by Presidential Decree as those provided to religion-related workers;

(iii) Payments specified by Presidential Decree as those paid to religion-related workers in the nature of reimbursement for actual expenses;

(iv) An amount not exceeding 100,000 won per month, paid by a religious organization for the childbirth of a religion-related worker or his/her spouse or for the care of his/her children aged 6 years or less (as at the commencement date of the relevant taxable period);

(v) Benefits given to religion-related workers by providing the housing facilities specified by Ordinance of the Ministry of Strategy and Finance.

(i) Allowances received by non-remunerated members of committees, etc. established under statutes, regulations, or ordinances (including members of the National Academy of Sciences and the National Academy of Arts).

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

Article 14(Calculation of Tax Base) #

(1) The tax base of a resident's global income and retirement income shall be calculated separately.

(2) The tax base of global income (hereinafter referred to as "tax base of global income") shall be the amount determined by applying the deductions under Articles 50, 51, 51-3, 51-4, and 52 (hereinafter referred to as “deductions from global income”) to the aggregate (hereinafter referred to as “global income”) of interest income, dividend income, business income, wage and salary income, pension income, and other income calculated under Articles 16, 17, 19, 20, 20-3, 21, 24 through 26, 27 through 29, 31 through 35, 37, 39, 41 through 46, 46-2, 47, and 47-2. <Amended by Act No. 11611, Jan. 1, 2013; Act No. 12169, Jan. 1, 2014>

(3) None of the following income shall be included when calculating the tax base of global income: <Amended by Act No. 10408, Dec. 27, 2010; Act No. 10854, Jul. 14, 2011; Act No. 11611, Jan. 1, 2013; Act No. 12852, Dec. 23, 2014; Act No. 13558, Dec. 15, 2015; Act No. 15225, Dec. 19, 2017; Act No. 16104, Dec. 31, 2018; Dec. 31, 2019; Dec. 29, 2020>

1. Non-taxable income under the Restriction of Special Taxation Act or Article 12 of this Act;

2. Wage and salary income of a daily employed worker prescribed by Presidential Decree (hereinafter referred to as "daily employed worker");

3. Interest income and dividend income withheld at tax rates under Article 129 (2), and excess repayment from a workplace mutual-aid association pursuant to Article 16 (1) 10;

4. Interest income and dividend income received from a financial company, etc. falling under any item of subparagraph 1 of Article 2 of the Act on Real Name Financial Transactions and Confidentiality (hereinafter referred to as "financial company, etc.") by an organization making financial transactions with its name declared, as an organization which does not make distributions to its members among the organizations, other than organizations deemed corporations;

5. Income subject to separate taxation under the Restriction of Special Taxation Act;

6. Interest income and dividend income (excluding dividend income under Article 17 (1) 8), other than those specified in subparagraphs 3 through 5, the total amount of which does not exceed 20 million won (hereinafter referred to as "standard amount of global taxation on interest income, etc.") and is withheld pursuant to Article 127;

7. House rental income of a person the total amount of whose gross earnings specified by Presidential Decree during the relevant taxable period does not exceed 20 million won (hereinafter referred to as “house rental income subject to separate taxation”). In such cases, matters necessary for calculating house rental income, etc. shall be prescribed by Presidential Decree;

8. Other income falling under any of the following (hereinafter referred to as "other income subject to separate taxation"):

(a) Other income under Article 21 (1) 1 through 8, 8-2, 9 through 20, 22, 22-2 and 26 (excluding income under items (d) and (e)), the amount of which under paragraph (3) of the same Article does not exceed three million won and is withheld (including where such income is not withheld because it is subject to Article 127 (1) 6 (b)) pursuant to Article 127: Provided, That where a resident with the relevant income intends to include the income when calculating the tax base of global income, such income shall be excluded from other income subject to separate taxation);

(b) Other income received other than pensions under Article 21 (1) 21;

(d) Among other income under Article 21 (1) 2, the lottery prize defined in Article 2 of the Lottery Tickets and Lottery Fund Act;

(e) Among other income under Article 21 (1), other income similar to those under item (d) and prescribed by Presidential Decree;

9. The following pension income, out of the pension income under Article 20-3 (1) 2 and 3 (excluding where a resident with the income referred to in item (c) intends to include it when calculating the tax base of global income; hereinafter referred to as "pension income subject to separate taxation"):

(a) Pension income received as retirement income under Article 20-3 (1) 2 (a);

(b) Pension income withdrawn in the amount specified in Article 20-3 (1) 2 (b) or (c) where the requirements specified by Presidential Decree are met, for the purpose of medical treatment or due to a natural disaster or any other inevitable circumstances;

(c) Pension income where the sum of any pension income other than the income referred to in items (a) and (b) does not exceed 12 million won per year;

10. Deleted. <by Act No. 11611, Jan. 1, 2013>

(4) When calculating the standard amount of global taxation on interest income, etc. pursuant to paragraph (3) 6, no amount to be added pursuant to the proviso to Article 17 (3) shall be included in dividend income.

(5) Among income falling under paragraph (3) 3 through 6, interest income shall be called as "interest income subject to separate taxation", and dividend income as "dividend income subject to separate taxation."

(6) The tax base on retirement income (hereinafter referred to as "tax base on retirement income") shall be the amount obtained by deducting the retirement income under Article 48 from the amount of retirement income under Article 22.

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

[Enforcement Date: Jan. 1, 2025] Article 14 (3) 3 (c) (limited to the part pertaining to Article 21 (1) 27)

Article 16(Interest Income) #

(1) Interest income shall consist of the following incomes generated during the relevant taxable period: <Amended by Act No. 10175, Mar. 22, 2010; Act No. 11146, Jan. 1, 2012; Act No. 14389, Dec. 20, 2016; Dec. 29, 2020>

1. Interest and the discounted value of bonds or securities issued by the State or a local government;

2. Interest and the discounted value of bonds or securities issued by a domestic corporation;

2-2. Gains from derivative-linked bonds received domestically or internationally, as prescribed by Presidential Decree;

3. Interest on deposits (including installment savings, security deposits, deposits, and postal transfer; hereinafter the same shall apply) received in the Republic of Korea;

4. Profits made from the credit fraternity or credit installments pursuant to the Mutual Savings Banks Act;

5. Interest and the discounted value of bonds or securities issued by a domestic branch or a domestic business office of a foreign corporation;

6. Interest and the discounted value of bonds or securities issued by a foreign corporation;

7. Interest of deposits received overseas;

8. Profit margins on repurchase of bonds or securities prescribed by Presidential Decree;

9. Profit margins on any of the savings insurances specified by Presidential Decree: Provided, That profit margins on any of the following insurances shall be excluded herefrom:

(a) An insurance the duration of which is at least ten years from the day on which the initial premium is paid to the expiry date or the date of early termination, which meets the requirements prescribed by Presidential Decree;

(b) A pension insurance for life that meets the requirements prescribed by Presidential Decree;

10. Excess repayment from a workplace mutual-aid association prescribed by Presidential Decree;

11. Profits made from a non-business loan;

12. Income similar to any of those specified in subparagraphs 1, 2, 2-2, 3 through 11, in the nature of the price following any use of money;

13. Profits made from the conduct or trading of the relevant derivatives where the conduct or trading generating the income falling under any of subparagraphs 1, 2, 2-2, 3 through 12 is merged with the derivatives prescribed in Article 5 of the Financial Investment Services and Capital Markets Act (hereinafter referred to as “derivatives”) as prescribed by Presidential Decree.

(2) The amount of interest income shall be the total amount of income during the relevant taxable period.

(3) Necessary matters regarding the scope of interest income under the subparagraphs of paragraph (1) and of the amount of interest income under paragraph (2), shall be prescribed by Presidential Decree.

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

[Enforcement Date: Jan. 1, 2025] Articles 16 (1) 2-2, 16 (1) 12, and 16 (1) 13

Article 17(Dividend Income) #

(1) Dividend income shall be the following income generated during the relevant taxable period: <Amended by Act No. 11146, Jan. 1, 2012; Act No. 15225, Dec. 19, 2017; Dec. 29, 2020; Dec. 31, 2022>

1. Dividends or shares of profits or a surplus received from a domestic corporation;

2. Dividends or shares received from an organization deemed a corporation;

2-2. Dividends or shares received from a trust property deemed to be a corporation under Article 5 (2) of the Corporate Tax Act (hereinafter referred to as “trust property subject to corporate tax”);

3. Deemed dividends;

4. The amount treated as dividend under the Corporate Tax Act;

5. Profits from collective investment schemes prescribed by Presidential Decree, received in Korea or overseas;

5-2. Deleted; <Dec. 29, 2020>

6. Dividends or shares of profits or a surplus received from a foreign corporation;

7. The amount deemed allotted pursuant to Article 27 of the Adjustment of International Taxes Act;

8. The amount equivalent to the profit-and-loss distribution ratio of joint investment business entities pursuant to Article 43 (1), of the amount of income generated from joint business pursuant to Article 43;

9. Income in the nature of distributions of profit, as income similar to any one of those referred to in subparagraphs 1, 2, 2-2, 3 through 7;

10. Profits from transactions or activities of derivatives, where transactions or activities generating the income referred to in any of subparagraphs 1, 2, 2-2, 3 through 9 are linked to derivatives, as prescribed by Presidential Decree.

(2) Deemed dividend referred to in paragraph (1) 3 means any of the following amounts, and shall be deemed paid to the relevant stockholders, employees, and other investors: <Amended by Act No. 11146, Jan. 1, 2012>

1. The amount of money acquired by a stockholder through retirement of stocks or reduction of capital, the value of other assets or the amount of money acquired by an employee or investor through his/her resignation, withdrawal or reduction of investment and the value of other assets exceeding the amount disbursed by the stockholder, employee, or investor to acquire such stocks or investment;

2. The value of stocks or investment acquired by capitalizing all or part of a surplus fund of a corporation in the amount of capital or investment: Provided, That this shall not apply where any of the following amounts is capitalized:

(a) A capital reserve prescribed by Presidential Decree pursuant to Article 459 (1) of the Commercial Act;

(b) A revaluation reserve under the Assets Revaluation Act (excluding the amount equivalent to the difference of revaluation of land under Article 13 (1) 1 of the same Act);

3. The amount of money acquired by a stockholder, an employee, an investor, or a member of a dissolved corporation (including an organization deemed a corporation) through distribution of the remaining assets by dissolution of such corporation, or the value of other assets is the amount exceeding the amount disbursed to acquire the relevant stocks, investment, or capital: Provided, That where a domestic corporation changes its organizational structure, any of the following cases shall be excluded therefrom:

(a) Where a corporation changes its organizational structure under the Commercial Act;

(b) Where a corporation incorporated under a special law changes its organizational structure, due to the amendment or repeal of the relevant special law, to a company under the Commercial Act;

(c) Cases prescribed by Presidential Decree where a domestic corporation changes its organizational structure pursuant to other Acts;

4. The total value and money of stocks or investment which stockholders, employees, or investors of a corporation which has become extinct by the merger acquire from a corporation which survives merger or a corporation incorporated by the merger due to such merger, which exceed the amount disbursed to acquire stocks or investment of the corporation which has become extinct by such merger;

5. Where the stockholding ratio of stockholders, etc. other than a corporation, is increased because the corporation capitalizes pursuant to the items of subparagraph 2 retaining its treasury stocks or shares in investment, the value of stocks, etc. equivalent to the increased ratio of shares;

6. In cases of split of a corporation, the total value of stocks, money, and other assets (hereinafter referred to as "consideration for split") which stockholders of a corporation which is split (hereinafter referred to as "split corporation") or of the other corporation of the split and merger which has ceased to exist, acquire by the split from a corporation incorporated by the split or the other corporation of the split and merger, which exceeds the amount disbursed to acquire stocks (limited to stocks decreased due to retirement, etc. where the split corporation survives) of such split corporation or the other corporation of the split and merger which has ceased to exist.

(3) The amount of dividend income shall be the total amount in the relevant taxable period: Provided, That with regard to the part, excluding any of the following dividends of those dividend incomes described in paragraph (1) 1, 2, 3 and 4 and dividend income prescribed by Presidential Decree of those dividend incomes described in paragraph (1) 5, the amount of dividend income shall be the amount calculated by adding the amount equivalent to 11/100 (or 12/100 for dividend income from January 1, 2009, to December 31, 2009) of such dividend income to the total amount of income in the relevant taxable period: <Amended on Dec. 29, 2020>

1. Deemed dividend by capitalizing gains on retirement of treasury stocks or shares in investment under paragraph (2) 2 (a);

2. Deemed dividend by capitalizing the net reassessed value of land under paragraph (2) 2 (b);

3. Deemed dividends under paragraph (2) 5;

4. Where any dividend income is received from a corporation prescribed by Presidential Decree, among corporations eligible for a non-taxation, exemption, reduction and exemption, or income deduction of corporate income tax to which the minimum tax under Article 132 of the Restriction of Special Taxation Act does not apply (including non-taxation, exemption, reduction and exemption, or income deduction pursuant to Acts, other than the Restriction of Special Taxation Act), the amount calculated by multiplying the amount of such dividend income by the rate prescribed by Presidential Decree.

(4) In applying paragraph (2) 1, 3, 4, and 6, where the amount disbursed to acquire stocks or investment is unclear, the par value of such stocks or investment (in cases of the stocks without par value, referring to the amount obtained after dividing the capital of a stock-issuing corporation concerned as at the date of acquisition of the stocks concerned by the total number of issued stocks; hereinafter the same shall apply) or the amount of investment shall be deemed the amount disbursed to acquire such stocks or investment. <Amended by Act No. 11146, Jan. 1, 2012>

(5) When applying paragraph (2), matters necessary for assessing the price of stocks or shares in investment shall be prescribed by Presidential Decree.

(6) Matters necessary for the scope of dividend income under the subparagraphs of paragraph (1) and the amount of dividend income under paragraph (3) shall be prescribed by Presidential Decree.

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

[Enforcement Date: Jan. 1, 2025] Articles 17 (1) 5, 17 (1) 5-2, 17 (1) 9, and 17 (1) 10

Article 19(Business Income) #

(1) Business income shall be the following income generated during the relevant taxable period: Provided, That the foregoing provisions shall not apply where tax on such business income is withheld or a final return on the tax base of such business income has been filed, by treating that income as other income under Article 21 (1) 8-2: <Amended by Act No. 12169, Jan. 1, 2014; Act No. 15225, Dec. 19, 2017; Act No. 16104, Dec. 31, 2018; Dec. 31, 2019>

1. Income generated from agriculture (excluding grain- or other food-crop-cultivating business, among crop-cultivating business; hereinafter the same shall apply), forestry, and fisheries;

2. Income generated from mining;

3. Income generated from the manufacturing industry;

4. Income generated from electricity, gas, steam, or air conditioning and supply business;

5. Income generated from water supply, sewage and waste disposal, or raw material recycling business;

6. Income generated from the construction industry;

7. Income generated from wholesale business and retail business;

8. Income generated from transportation and warehousing business;

9. Income generated from lodging business and restaurant business;

10. Income generated from information and communications business;

11. Income generated from finance business and insurance business;

12. Income generated from real estate business: Provided, That any income generated by providing or lending an easement or a surface right (including a right provided for the space above or below the surface of land) with respect to a public works project under Article 4 of the Act on Acquisition of and Compensation for Land, etc. for Public Works Projects shall be excluded herefrom;

13. Income generated from speciality, science, and technology service business (excluding research and development business prescribed by Presidential Decree);

14. Income generated from business facility management, business supporting service business or leasing service business;

15. Income generated from educational service business (excluding educational institutions prescribed by Presidential Decree);

16. Income generated from health business and social welfare services business (excluding social welfare business prescribed by Presidential Decree);

17. Income generated from services business related to art, sports, and leisure;

18. Income generated from an association and organization (excluding associations and organizations prescribed by Presidential Decree), repair, and other private service business;

19. Income generated from family-employed activity;

20. Income that a person subject to double-entry bookkeeping under Article 160 (3) gains from transferring any of the tangible business-use assets specified by Presidential Decree, such as vehicles or delivery equipment: Provided, That any income constituting capital gains under Article 94 (1) 1 shall be excluded herefrom;

21. Income obtained from the continuous and repeated activity under a person's own calculation and responsibility for profit-making purposes, as income similar to those specified in subparagraphs 1 through 20.

(2) The amount of business income shall be calculated by deducting necessary expenses used for business from the total income in the relevant taxable period, and where the necessary expenses exceed the total income, such excess shall be referred to as "loss."

(3) Except as otherwise provided in this Act, the scope of business under each subparagraph of paragraph (1) shall be in accordance with the Korea Standard Industry Code announced by the Commissioner of the Statistics Korea pursuant to Article 22 of the Statistics Act, and matters necessary for the scope of other business income shall be prescribed by Presidential Decree.

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

Article 20-3(Pension Income) #

(1) Pension income shall be the following income, generated during the relevant taxable period: <Amended by Act No. 11611, Jan. 1, 2013; Act No. 12169, Jan. 1, 2014; Act No. 12852, Dec. 23, 2014>

1. Various pensions received pursuant to the public pension-related Acts (hereinafter referred to as “public pension income”);

2. Any of the following amounts of pension withdrawn in the form of pension, etc. prescribed by Presidential Decree (hereinafter referred to as “receipt of pension”; withdrawal of money other than the receipt of pension shall be referred to as “receipt other than pension”), regardless of the nature of the income, from a pension account (referring to the account specified by Presidential Decree as an account opened under the title of "pension savings" (hereinafter referred to as "pension savings account") or the account specified by Presidential Decree as an account opened in order to receive retirement pensions (hereinafter referred to as "retirement pension account"); hereinafter the same shall apply):

(a) Retirement income not withheld pursuant to Article 146 (2);

(b) An amount deposited in a pension account with tax credits under Article 59-3 (1);

(d) Other incomes prescribed by Presidential Decree, the income tax of which is deferred after they are transferred to or deposited in a pension account;

3. Income prescribed by Presidential Decree, which is similar to those specified under subparagraph 2 and is received in the form of pension.

(2) Public pension income shall be the pension income received based on either the contributions to pension and employer contributions (including contributions by the State or a local government; hereinafter the same shall apply) paid on or after January 1, 2002, or labor offered on or after January 1, 2002. <Amended by Act No. 11611, Jan. 1, 2013>

(3) The amount of pension income shall be calculated by deducting pension income under Article 47-2 from the total income under the subparagraphs of paragraph (1) (excluding income excluded from pension income under paragraph (2) and non-taxable income; hereinafter referred to as "total amount of pension").

(4) The scope and calculation method of pension income and other necessary matters shall be prescribed by Presidential Decree.

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

Article 21(Other Income) #

(1) Other income shall consist of the following incomes, other than interest income, dividend income, business income, wage and salary income, pension income, retirement income, financial investment income, and capital gains: <Amended by Act No. 9785, Jul. 31, 2009; Act No. 10408, Dec. 27, 2010; Act No. 11146, Jan. 1, 2012; Act No. 11611, Jan. 1, 2013; Act No. 12852, Dec. 23, 2014; Act No. 13558, Dec. 15, 2015; Act No. 14389, Dec. 20, 2016; Act No. 15225, Dec. 19, 2017; Act No. 16104, Dec. 31, 2018; Aug. 27, 2019; Dec. 29, 2020; Jul. 18, 2023>

1. A prize, award, reward, compensation for service, or money and valuables corresponding thereto;

2. Money and other valuables obtained through any lottery ticket, premium ticket, or other lottery tickets;

3. Financial profits obtained by participating in any act (whether the relevant act is legal or illegal shall not be taken into account) prescribed by the Act on Special Cases concerning Regulation and Punishment of Speculative Acts, Etc.;

4. Refunds received by a purchaser of a horse racing ticket pursuant to the Korean Racing Authority Act, a winner wager ticket pursuant to the Bicycle and Motorboat Racing Act, a bullfighting match wager ticket pursuant to the Traditional Bullfighting Match Act, and a sports promotion wager ticket pursuant to the National Sports Promotion Act (whether the relevant underlying act is legal or illegal shall not be taken into account);

5. Money and other valuables received by a person, other than an author, stage performer, sound record producer, or broadcasting business entity, in consideration of transfer or use of copyrights or neighboring rights;

6. Money and other valuables received in consideration of transfer, lease, or use of any of the following assets or rights:

(a) Movie films;

(b) Tapes or films for the radio and television broadcast;

7. Money and other valuables received in consideration of transfer or lease of mining rights, fishing rights, aquaculture rights, industrial property rights, and industrial information, industrial secrets, trademark rights, business rights (including the rights to lease a store prescribed by Presidential Decree), rights incidental to permission to collect earth, sand, and rocks, rights to develop and use underground water, and other assets or rights similar thereto;

8. Money and other valuables received as rent for a temporary lease of any goods (including securities) or premises;

8-2. Money and goods received as a usage fee not exceeding the extent prescribed by Presidential Decree by leasing goods or place through a person who conducts mail order brokerage activities pursuant to the Act on the Consumer Protection in Electronic Commerce;

9. Income generated by providing or lending an easement or a surface right (including a right provided for the space above or below the surface of land) with respect to a public works project under Article 4 of the Act on Acquisition of and Compensation for Land, etc. for Public Works Projects;

10. Income received for a breach or cancellation of a contract, which falls under any of the following:

(a) Penalty;

(b) Indemnity;

11. Where any compensation is received, or any new ownership is acquired, for finding any lost articles or buried property, such compensation or assets;

12. Assets, the ownership of which is acquired by possessing an object which has no owner;

13. Money and other valuables received by a person related to a resident, nonresident, or corporation prescribed by Presidential Decree from the relevant resident, nonresident, or corporation on the reason of such special relation, which are not deemed pay, a dividend, or donation, but an economic profit;

14. Money and other valuables for prize winning, allotment, or others corresponding thereto (hereinafter referred to as "prize money and other valuables, etc.") received by participating in acts using slot machines (including video games), coin tossing machines, and other similar machines and tools (hereinafter referred to as "slot machines, etc.");

15. Income received in the capacity of the original author for creative works of literature, science, fine arts, music, or photography (including illustrations or cartoons printed in periodicals under the Act on the Guarantee of Freedom and Functions of Newspapers, Etc., and translation of Korean creative works or classics into foreign languages or Korean), which falls under any of the following:

(a) Manuscript fees;

(b) Royalties paid for use of copyrighted materials;

16. A brokerage fee on a property right;

17. An honorarium;

18. A lump sum allowance received for the cancellation of account of mutual aid fund for small corporations or small enterprises prescribed by Presidential Decree;

19. The price received for temporarily furnishing any of the following personal services (excluding services governed by subparagraphs 15 through 17):

(a) Services receiving the price, such as a lecturer's fee, etc. for a lecture to many persons outside of an employment relationship;

(b) Services, such as commentation, enlightenment, or screening of performances, etc. on the radio, television broadcasting, etc. for remuneration or the price in the nature similar thereto;

(c) Services rendered by a lawyer, certified public accountant, tax accountant, architect, surveyor, patent lawyer, or a person having professional knowledge or special expertise using his/her knowledge or expertise for remuneration or consideration;

(d) Other services rendered outside of an employment relationship for an allowance or the price in the nature similar thereto;

20. Income treated as other income pursuant to Article 67 of the Corporate Tax Act;

21. Income received in the form other than pension, regardless the nature of such income, out of the money prescribed in Article 20-3 (1) 2 (b) and (c);

22. Gains from exercising after retirement stock options granted before retirement, or from exercising those granted outside of an employment relationship;

22-2. A compensation for employee's invention that an employee, etc. or a faculty or employee of a university receives after retirement;

23. Bribes;

24. Money and other valuables received by means of acceptance of a bribe for good offices or acceptance of a bribe for breach of trust;

25. Deleted; <Dec. 29, 2020>

26. Income that a religion-related worker receives from any of the religious organizations specified by Presidential Decree in relation of the execution of a religious rite or any other activity as a religion-related worker (hereinafter referred to as "religious person's income");

27. Income generated by transferring or lending virtual asset as defined in subparagraph 1 of Article 2 of the Act on the Protection of Users of Virtual Assets (hereinafter referred to as "virtual assets") (hereinafter referred to as "virtual asset income").

(2) Notwithstanding paragraph (1) and Article 19 (1) 21, income generated from the transfer of paintings, calligraphic works, and antiques as prescribed by Presidential Decree (excluding income generated from cases prescribed by Presidential Decree, such as those having a business place) shall be classified as other income. <Newly Inserted on Dec. 29, 2020>

(3) The amount of other income shall be calculated by deducting necessary expenses, from the total amount of income generated in the relevant taxable period. <Amended on Dec. 29, 2020>

(4) Where income tax is withheld from a religious person's income under paragraph (1) 26 or a final return on the tax base of a religious person's income has been filed, treating the income as wage and salary income under Article 20 (1), such income shall be deemed wage and salary income. <Newly Inserted by Act No. 13558, Dec. 15, 2015; Dec. 29, 2020>

(5) The detailed scope and method of calculation of other income, and other necessary matters, shall be prescribed by Presidential Decree. <Amended on Dec. 15, 2015; Dec. 29, 2020>

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

[Enforcement Date: Jan. 1, 2025] The provisions, with the exception of the subparagraphs, of Article 21 (1) and Article 21 (1) 27

Article 22(Retirement Income) #

(1) Retirement income shall be the following income, generated in the relevant taxable period: <Amended by Act No. 11611, Jan. 1, 2013>

1. A lump sum allowance received pursuant to the public pension-related Acts;

2. A lump sum allowance received upon retirement based of the amount to be borne by users;

3. Other incomes prescribed by Presidential Decree, which are similar to those under subparagraphs 1 and 2.

(2) The retirement income under paragraph (1) 1 shall be the lump sum payment received based on either contributions to pension or employer contributions made on or after January 1, 2002, or on the labor offered on or after January 1, 2002. <Amended by Act No. 11611, Jan. 1, 2013>

(3) The amount of retirement income shall be the sum of the income specified in each subparagraph of paragraph (1) (excluding the amount of non-taxable income): Provided, That, if the amount of retirement income of any of the executives specified by Presidential Decree (excluding the amount under paragraph (1) 1; referring to the amount after deducting the amount of retirement income specified by Presidential Decree, if the executive is entitled to receiving the retirement income, supposing that the executive retired on December 31, 2011) exceeds the amount calculated in accordance with the following formula, such excess shall be deemed wage and salary income, notwithstanding paragraph (1): <Amended by Act No. 11146, Jan. 1, 2012; Act No. 11611, Jan. 1, 2013; Act No. 12852, Dec. 23, 2014; Dec. 31, 2019>

The annual average amount of gross pay earned during the three-year period retroactive to December 31, 2019 (if the period of employment is less than three years, the applicable employment period) x 1/10 x The period of employment from January 1, 2012 to December 31, 2019/12 x 3 + The annual average amount of gross pay earned during the three-year period retroactive to the date of retirement (if the period of employment from January 1, 2020 to the date of retirement is less than three years, the applicable employment period) x 1/10 x The period of employment after January 1, 2020 x 2

(4) For the purpose of applying the proviso to paragraph (3) and the formula in paragraph (3), the employment period and gross pay shall be calculated as follows: <Amended by Act No. 12852, Dec. 23, 2014>

1. Employment period: It shall be calculated by the number of months. In such cases, a period of less than one month shall be deemed one month;

2. Gross pay: Wage and salary incomes under Article 20 (1) 1 and 2, including salary and bonus, (excluding non-taxable income under Article 12) shall be aggregated.

(5) Deleted. <by Act No. 11611, Jan. 1, 2013>

(6) The scope and method of calculation of retirement income, and other necessary matters, shall be prescribed by Presidential Decree.

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

Article 26(Exclusion from Total Income) #

(1) No amount appropriated for another tax, out of the income tax or the individual local income tax refunded or refundable to a resident, shall be included in the total income in calculating the amount of income for the relevant taxable period. <Amended by Act No. 12153, Jan. 1, 2014>

(2) No amount used to offset a loss carried forward pursuant to Article 45 (3), among the value of assets received gratuitously by a resident (excluding amounts, as prescribed by Presidential Decree, that a person subject to double-entry bookkeeping as defined in Article 160 receives free of charge from the State, a local government, or a public institution, including national subsidies as defined in Article 32) and the amount of liabilities decreased by waiver or extinguishment of debts, shall be included in the total income when calculating the amount of income generated in the relevant taxable period. <Amended on Dec. 31, 2019>

(3) No amount of income carried forward from the preceding taxable period when calculating the amount of business income of a resident, shall be included in the total income when calculating the amount of income generated in the relevant taxable period.

(4) When a resident who conducts agriculture, forestry, fishery, mining, or manufacturing business uses agricultural products, prizes, livestock products, forest products, marine products, mining products, earth, sand, and rock he/she mines, catches, cultivates, harvests, or collects, or products he/she produces, as raw materials or fuel for manufacture of other products he/she produces, no amount equivalent to the part used thereof shall be included in the total income when calculating the amount of income generated in the relevant taxable period.

(5) Where a resident who conducts construction business uses goods he/she produces as materials for construction works for which he/she contracted, no amount equivalent to the part used thereof shall be included in the total income when calculating the amount of income generated in the relevant taxable period.

(6) Where a resident who conducts electricity, gas, steam, or water supply business uses the electricity, gas, steam, or water he/she produces for the power, fuel, or water for other business he/she conducts, no amount equivalent to the part used thereof shall be included in the total income when calculating the amount of income generated in the relevant taxable period.

(7) No individual consumption tax or liquor tax paid or to be paid by a resident liable to pay such individual consumption tax or liquor tax imposed on the amount earned or to be earned as his/her total income, shall be included in the total income when calculating the amount of income for the relevant taxable period: Provided, That this shall not apply to any tax amount he/she shall pay for raw materials, fuel, or any other goods purchased, imported, or used.

(8) No additional payments on the refund of national taxes under Article 52 of the Framework Act on National Taxes, additional dues on the local tax refund under Article 62 of the Framework Act on Local Taxes, and interest on the refund of erroneous payments, shall be included in the total income when calculating the amount of income generated during the relevant taxable period. <Amended by Act No. 10408, Dec. 27, 2010; Act No. 14474, Dec. 27, 2016>

(9) No input tax on value-added tax shall be included in the total income when calculating the amount of income generated in the relevant taxable period.

(10) No amount of tax refunded to an oil dealer pursuant to Article 106-2 (2) of the Restriction of Special Taxation Act, shall be included in the total income when calculating the amount of income generated in the relevant taxable period.

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

Article 31(Calculation of Necessary Expenses for Value of Assets Acquired with Gains on Insurance Settlement) #

(1) Where a business entity acquires assets of the same kind as a replacement for destroyed tangible assets with insurance money received due to the destruction of or damage to the tangible assets, or improves the tangible assets acquired as a replacement or damaged assets, the amount equivalent to gains on insurance settlement used for the acquisition or improvement of such assets, of the value of the relevant assets, may be included in necessary expenses when calculating the amount of income generated in the taxable period to which the date he/she receives insurance money belongs, as prescribed by Presidential Decree. <Amended on Dec. 31, 2019>

(2) Where he/she is unable to acquire or improve the relevant assets pursuant to paragraph (1) in the taxable period to which the date he/she receives insurance money belongs, paragraph (1) shall apply mutatis mutandis to only such assets acquired or imported within two years from the date of commencement of the taxable period following such taxable period.

(3) Any person who intends to include the amount equivalent to gains on insurance settlement in necessary expenses pursuant to paragraph (2) shall submit a plan for use of such insurance money received to the head of a tax office having jurisdiction over the place for tax payment, as prescribed by Presidential Decree. <Amended on Dec. 31, 2019>

(4) If any person who counts the amount equivalent to gains on insurance settlement in necessary expenses pursuant to paragraph (2) falls under any of the following subparagraphs, such amount shall be included in the total amount of income in the taxable period when the relevant cause thereof has taken place: <Amended on Dec. 31, 2019>

1. Where he/she fails to use the amount equivalent to gains on insurance settlement within the deadline to acquire or improve assets under paragraph (1);

2. Where he/she discontinues the relevant business in the period under paragraph (2).

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

[Title Amended on Dec. 31, 2019]

Article 32(Calculation of Value of Assets for Business Acquired with National Subsidies as Necessary Expenses) #

(1) Where a business entity receives a subsidy under the Subsidy Management Act (hereinafter referred to as "national subsidy") and disburse it for the acquisition or improvement of assets for business purpose, or acquires or improves the assets for business purposes, and receives a national subsidy therefor afterwards, the amount equivalent to a national subsidy disbursed for the acquisition or improvement of assets for business purposes may be included in necessary expenses when calculating the amount of income in the taxable period to which the date he/she receives such national subsidy belongs, as prescribed by Presidential Decree. <Amended by Act No. 10408, Dec. 27, 2010; Act Nos. 10898 & 10907, Jul. 25, 2011>

(2) Where he/she is unable to acquire or improve assets for business under paragraph (1) in the taxable period to which the date he/she receives a national subsidy belongs, paragraph (1) shall apply mutatis mutandis to only such assets acquired or imported by no later than the end of the taxable period following such taxable period. In such cases, where he/she fails to use the national subsidy by the deadline due to extenuating circumstances prescribed by Presidential Decree, such as delay in permission or approval of construction work, the end of the taxable period to which the date the relevant circumstance ceases to exist belongs shall be the deadline.

(3) Any person who intends to include a national subsidy in necessary expenses pursuant to paragraph (2) shall submit a plan for use of such national subsidy to the head of a tax office having jurisdiction over the place for tax payment, as prescribed by Presidential Decree.

(4) If any person who has included a national subsidy in necessary expenses pursuant to paragraph (1) or (2) falls under any of the following, the amount equivalent to such national subsidy shall be included in the total income in the taxable period when the relevant cause thereof has taken place:

1. Where he/she fails to use the national subsidy for the acquisition or improvement of assets for business under paragraph (1) by the deadline;

2. Where he/she discontinues the relevant business by the deadline under paragraph (2).

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

Article 33(Exclusion from Necessary Expenses) #

(1) Any of the following amounts, out of the amount that a resident has paid or shall pay for the relevant the taxable period, shall not be included in necessary expenses in calculating the amount of business income: <Amended by Act No. 10408, Dec. 27, 2010; Act No. 12153, Jan. 1, 2014; Dec. 31, 2018; Dec. 29, 2020; Dec. 31, 2022>

1. Income tax (including the amount of foreign income tax in the case of applying tax credit under Articles 57 and 57-2) and individual local income tax;

2. A fine, penalty (including the amount equivalent to a fine or a penalty by notification), and fine for negligence;

3. Penalty taxes and forced collection charges under the National Tax Collection Act and other Acts related to taxes;

4. Tax (including penalty tax) paid or payable due to nonperformance of the liability for collection under Acts related to taxes;

5. Expenses for domestic affairs prescribed by Presidential Decree, and expenses related thereto;

6. An amount exceeding the amount calculated, as prescribed by Presidential Decree, as depreciation expense of depreciable assets appropriated in each taxable period;

7. An appraisal loss of assets excluding assets pursuant to the proviso to Article 39 (3) and the subparagraphs of paragraph (4) of the same Article;

8. An amount in arrears of the individual consumption tax or liquor tax on the products carried out, but unsold: Provided, That this shall not apply where an amount equivalent to such amount of tax is added to the value of such products;

9. Input tax on value-added tax: Provided, That, the amount of tax in cases of value-added tax exempted or in other cases prescribed by Presidential Decree, and value-added tax paid by a person eligible for simplified taxation of value-added tax shall be excluded;

10. Interest on a loan appropriated for construction funds prescribed by Presidential Decree of the loans;

11. Interest on any loan, the creditor of which is obscure;

12. Utility charges that are not mandatory under Acts and subordinate statutes or those imposed as a disciplinary measure for non-performance of duties or violation of prohibited or restricted acts under Acts and subordinate statutes;

13. The amount, among expenses disbursed in each taxable period, deemed not directly related to the business prescribed by Presidential Decree;

14. Prepaid expenses;

15. Compensation for damage to be paid by infringing another person's right on purpose or by gross negligence in connection with business.

(2) Where paragraph (1) 5, 10, 11, and 13 are applicable at the same time, they shall be applied in the order prescribed by Presidential Decree.

(3) Matters necessary for exclusion from necessary expenses pursuant to paragraph (1) shall be prescribed by Presidential Decree.

[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]

[Enforcement Date: Jan. 1, 2025] Article 33 (1) 1