[
THE INVESTOR] The capital gains tax on profits reaped from sale of stocks will be levied on a wider range of shareholders as the government pushes to subject all stock sales to taxation.
According to the tax revision announced on July 28, capital gains tax will be levied on individuals who hold 1.5 billion won (US$1.33 million) or more of an individual company’s shares from April 2018. Both Kospi- and Kosdaq-listed stocks will be subjected to the same limit.
At present, only those who hold more than 2.5 billion won stake or more than 1 percent of an individual company listed on Kospi are levied capital gains tax upon sale of relevant stocks. The current bar on Kosdaq-listed stocks is 2 billion won.
“(Taxation on capital gains from stock sales) will be widened by stages. The latest measure will be applied with one year delay to allow the taxpayers to forecast (their taxes),” the government said.
By Choi He-suk (
cheesuk@heraldcorp.com)
