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| TITLE | Supreme Court Decision 2011Du4411 Decided July 11, 2013【Cancellation of Imposition of Corporate Tax】 [full Text] |
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| Summary | |
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[1] Where British overseas territory Bermuda and Cayman Islands’s limited partnership Gap acquired domestic stocks through Malaysian corporation Eul and sold them to corporation Byung, Byung did not withhold corporate tax when it paid Eul, and tax authorities imposed withholding corporate tax on Byung, the court held that the court below erred by misapprehending legal principle since it should have decided the possible status of Gap as foreign corporation under the former Corporate Tax Act and possibility of imposition of corporate tax [2] The meaning of “revenue amount,” “paid amount,” or “acquisition value” under Articles 92(2)2 and 98(1)4 of the former Corporate Tax Act (i.e., actual transaction value); and where actual transfer price of securities is verified by payer of securities capital gains of domestic source to foreign corporation, the method of computing withholding corporate tax, and whether the holding becomes different where a foreign corporation transfers securities by means of exchange (negative) |
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