STAMP TAX ACT
Wholly Amended by Act No. 4452, Dec. 27, 1991
Amended by Act No. 5374, Aug. 28, 1997
Act No. 6537, Dec. 29, 2001
Act No. 7320, Dec. 31, 2004
Act No. 8139, Dec. 30, 2006
Act No. 8343, Apr. 11, 2007
Act No. 8839, Jan. 9, 2008
Act No. 8852, Feb. 29, 2008
Act No. 9917, Jan. 1, 2010
Act No. 11461, jun. 1, 2012
Act No. 11551, Dec. 18, 2012
Act No. 12171, Jan. 1, 2014
Act No. 12865, Dec. 30, 2014
Act No. 14048, Mar. 2, 2016
Act No. 15331, Dec. 30, 2017
Act No. 16106, Dec. 31, 2018
| Article 1 (Duty to Pay Tax) |
| (1) | A person who prepares a contract for the creation, transfer or change of a right, etc. to an asset or any other documents certifying such transaction in the Republic of Korea is obligated to pay the stamp tax on the documents pursuant to this Act, when he or she prepares the documents. |
| (2) | Where two or more persons jointly prepare a document, the persons preparing the document are jointly obligated to pay the stamp tax on the document. |
[This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
The terms used in this Act shall be defined as follows:
| 1. | The term "certificate" means a contract for the creation, transfer, or change of a right to an asset or any other document prepared to certify such transaction; |
| 2. | The term "passbook" means a document bound in the form of a single document to enter recurrent transactions therein. |
[This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 3 (Taxable Documents and Amount of Tax) |
| (1) | Documents that require payment of the stamp tax (hereinafter referred to as "taxable documents") and the amount of tax for each document shall be as set out as follows: <Amended by Act No. 12171, Jan. 1, 2014; Act No. 15331, Dec. 30, 2017> |
| Taxable Documents | Amount of Tax | | 1. A certificate of the transfer of ownership of real estates, ships or aircraft | If the stated amount exceeds 10 million won but does not exceed 30 million won: 20,000 won | | If the stated amount exceeds 30 million won but does not exceed 50 million won: 40,000 won | | If the stated amount exceeds 50 million won but does not exceed 100 million won: 70,000 won | | If the stated amount exceeds 100 million won but does not exceed one billion won: 150,000 won | | If the stated amount exceeds one billion won: 350,000 won | | 2. A certificate of a consumer cash loan with a financial institution or insurance company specified by Presidential Decree | Amount of tax prescribed in subparagraph 1 | | 3. A document prepared as a certificate of contracting or delegation pursuant to an Act and specified by Presidential Decree | Amount of tax prescribed in subparagraph 1 | | 4. A certificate of the transfer of an asset specified by Presidential Decree as a movable asset, the ownership of which shall be registered pursuant to an Act | 3,000 won | 5. A certificate of the transfer of a mining right, intangible property right, fishing right, publication right, neighboring copyright or trade name right
| Amount of tax prescribed in subparagraph 1 | 6. A certificate of the subscription for, or the transfer of, a right to use any of the following facilities:
(a) A certificate for the membership for using a membership golf club, sports complex or horse-riding track under the Installation and Utilization of Sports Facilities Act;
(b) A certificate of the membership for using a resort condominium under the Tourism Promotion Act
| Amount of tax prescribed in subparagraph 1 | 7. A certificate of continuous and recurrent transactions under any of the following items:
(a) An application for membership of a credit card under Article 2 of the Specialized Credit Finance Business Act;
(b) A contract or application for subscription prepared to use services specified by Presidential Decree, among key communications services under Article 4 (2) of the Telecommunications Business Act;
(c) An application for subscription for a credit card merchantship under subparagraph 5 of Article 2 of the Specialized Credit Finance Business Act or other documents specified by Presidential Decree |
300 won
1,000 won
300 won | 8. A gift certificate or prepaid card specified by Presidential Decree
| If the face value is 10,000 won: 50 won | | If the face value exceeds 10,000 won but does not exceed 50,000 won: 200 won | | If the face value exceeds 50,000 won but does not exceed 100,000 won: 400 won | | If the face value exceeds 100,000 won: 800 won | | 9. A debt certificate, equity certificate, or beneficiary certificate under Article 4 (2) of the Financial Investment Services and Capital Markets Act | 400 won | | 10. A certificate or passbook of a deposit or installment savings, a contract on the sale of a repurchase agreement, an insurance policy, or a certificate or passbook of a trust | 100 won | | 11. A contract on the lease of a facility under subparagraph 10 of Article 2 of the Specialized Credit Finance Business Act | 10,000 won | 12. A certificate of guarantee of an obligation:
(a) A certificate of guarantee of a bond or a certificate of guarantee of a similar obligation specified by Presidential Decree;
(b) A certificate of guarantee of an obligation issued by the Korea Credit Guarantee Fund under the Credit Guarantee Fund Act or a certificate of guarantee of a similar obligation specified by Presidential Decree;
(c) A guarantee insurance certificate issued by a person engaged in insurance business under the Insurance Business Act, a certificate of guarantee of an obligation issued by the Credit Guarantee Fund for Farmers and Fishermen under Article 4 of the Act on the Credit Guarantee for Farmers and Fishers, or a certificate of guarantee of a similar obligation specified by Presidential Decree. | 10,000 won
1,000 won
200 won
|
|
| (2) | If a taxable document under any subparagraph of paragraph (1) is a passbook, the appropriate stamp tax shall be paid in relation to each book, whereas if a taxable document is not a passbook, the appropriate stamp tax shall be paid in relation to each set. |
| (3) | An electronic document under Article 2 of the Framework Act on Electronic Documents and Transactions (excluding short-term electronic bonds under the Act on Issuance and Distribution of Short-Term Electronic Bonds and other electronic documents prescribed by Presidential Decree, and hereinafter referred to as "taxable electronic document") shall be included in taxable documents under the subparagraphs of paragraph (1). <Amended by Act No. 11461, Jun. 1, 2012; Act No. 12171, Jan. 1, 2014> |
| (4) | A taxable document under any subparagraph of paragraph (1) shall be categorized according to its actual contents, irrespective of the name given thereto. |
| (5) | Except as otherwise provided for in paragraphs (1) through (4), matters necessary for determining and categorizing taxable documents shall be prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 3 (Taxable Documents and Amount of Tax) |
| (1) | Documents that require payment of the stamp tax (hereinafter referred to as "taxable documents") and the amount of tax for each document shall be as follows: <Amended by Act No. 12171, Jan. 1, 2014; Act No. 15331, Dec. 30, 2017; Act No. 16106, Dec. 31, 2018> |
| Taxable Documents | Amount of Tax | | 1. A certificate of the transfer of ownership of real estates, ships, or aircraft | If the stated amount exceeds 10 million won but does not exceed 30 million won: 20,000 won | | If the stated amount exceeds 30 million won but does not exceed 50 million won: 40,000 won | | If the stated amount exceeds 50 million won but does not exceed 100 million won: 70,000 won | | If the stated amount exceeds 100 million won but does not exceed one billion won: 150,000 won | | If the stated amount exceeds one billion won: 350,000 won | | 2. A certificate of a consumer cash loan with a financial institution or insurance company specified by Presidential Decree | Amount of tax prescribed in subparagraph 1 | | 3. A document prepared as a certificate of contracting or delegation pursuant to an Act and specified by Presidential Decree | Amount of tax prescribed in subparagraph 1 | | 4. A certificate of the transfer of an asset specified by Presidential Decree as a movable asset, the ownership of which shall be registered pursuant to an Act | 3,000 won | 5. A certificate of the transfer of a mining right, intangible property right, fishing right, publication right, neighboring copyright, or trade name right
| Amount of tax prescribed in subparagraph 1 | 6. A certificate of the subscription for, or the transfer of, a right to use any of the following facilities:
(a) A certificate for the membership for using a membership golf club, sports complex, or horse-riding track under the Installation and Utilization of Sports Facilities Act;
(b) A certificate of the membership for using a resort condominium under the Tourism Promotion Act
| Amount of tax prescribed in subparagraph 1 | 7. A certificate of continuous and recurrent transactions under any of the following items:
(a) An application for membership of a credit card under Article 2 of the Specialized Credit Finance Business Act;
(b) A contract or application for subscription prepared to use services specified by Presidential Decree, among key communications services under Article 4 (2) of the Telecommunications Business Act;
(c) An application for subscription for a credit card merchantship under subparagraph 5 of Article 2 of the Specialized Credit Finance Business Act or other documents specified by Presidential Decree |
300 won
1,000 won
300 won | 8. A gift certificate or prepaid card specified by Presidential Decree (excluding mobile gift certificates of which the face value does not exceed 30 thousand won, and which are sent to a mobile phone)
| If the face value is 10,000 won: 50 won | | If the face value exceeds 10,000 won but does not exceed 50,000 won: 200 won | | If the face value exceeds 50,000 won but does not exceed 100,000 won: 400 won | | If the face value exceeds 100,000 won: 800 won | | 9. A debt certificate, equity certificate, or beneficiary certificate under Article 4 (2) of the Financial Investment Services and Capital Markets Act | 400 won | | 10. A certificate or passbook of a deposit or installment savings, a contract on the sale of a repurchase agreement, an insurance policy or a certificate or passbook of a trust | 100 won | | 11. A contract on the lease of a facility under subparagraph 10 of Article 2 of the Specialized Credit Finance Business Act | 10,000 won | 12. A certificate of guarantee of an obligation:
(a) A certificate of guarantee of a bond or a certificate of guarantee of a similar obligation specified by Presidential Decree;
(b) A certificate of guarantee of an obligation issued by the Korea Credit Guarantee Fund under the Credit Guarantee Fund Act or a certificate of guarantee of a similar obligation specified by Presidential Decree;
(c) A guarantee insurance certificate issued by a person engaged in insurance business under the Insurance Business Act, a certificate of guarantee of an obligation issued by the Credit Guarantee Fund for Farmers and Fishermen under Article 4 of the Act on the Credit Guarantee for Farmers and Fishers or a certificate of guarantee of a similar obligation specified by Presidential Decree. | 10,000 won
1,000 won
200 won
|
|
| (2) | If a taxable document under any subparagraph of paragraph (1) is a passbook, the appropriate stamp tax shall be paid in relation to each book, whereas if a taxable document is not a passbook, the appropriate stamp tax shall be paid in relation to each set. |
| (3) | An electronic document under Article 2 of the Framework Act on Electronic Documents and Transactions (excluding short-term electronic bonds under the Act on Issuance and Distribution of Short-Term Electronic Bonds and other electronic documents prescribed by Presidential Decree, and hereinafter referred to as "taxable electronic document") shall be included in taxable documents under the subparagraphs of paragraph (1). <Amended by Act No. 11461, Jun. 1, 2012; Act No. 12171, Jan. 1, 2014> |
| (4) | A taxable document under any subparagraph of paragraph (1) shall be categorized according to its actual contents, irrespective of the name given thereto. |
| (5) | Except as otherwise provided for in paragraphs (1) through (4), matters necessary for determining and categorizing taxable documents shall be prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 4 (Calculation of Stated Amount) |
| (1) | If a taxable document falling under any provision of Article 3 (1) 1 through 3, 5 or 6 has no amount stated thereon, the amount under any of the following subparagraphs shall be deemed the amount stated thereon: |
| 1. | Where it is possible to calculate the amount with descriptions on the relevant taxable document: The amount so calculated; |
| 2. | Where it is impossible to calculate a stated amount in accordance with subparagraph 1: The minimum stated amount under Article 3 (1) 1. |
| (2) | Except as otherwise provided for in paragraph (1), matters necessary for the calculation of a stated amount shall be prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
Where the contents of a document is supplemented by one or more other documents (hereinafter referred to as "annexes") to form a single contract, such annexes shall be deemed taxable documents certifying the contents of the contract: Provided, That the foregoing shall not apply where a document under Article 3 (1) 7 is supplemented by such documents and other cases specified by Presidential Decree. [This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 6 (Non-Taxable Documents) |
The following documents shall be exempt from the stamp tax: <Amended by Act No. 14048, Mar. 2, 2016>
| 1. | A certificate or passbook prepared by the State or a local government (including an association of local governments; the same shall apply hereinafter); |
| 2. | A certificate or passbook prepared for dealing with the National Treasury; |
| 3. | A certificate submitted to the State or a local government for a donation to a public project; |
| 4. | A certificate prepared by an organization for charity or relief in connection with its activities; |
| 5. | A certificate of the transfer of ownership of a residential house with a stated amount of not more than 100 million won; |
| 6. | Acceptance or guarantee of a bill; |
| 8. | A certificate of a consumer cash loan with a stated amount of not more than 50 million won; |
| 9. | A certificate of goods for the exclusive use of postal service under the Postal Service Act; |
| 10. | A certificate required and prepared for the procedure for a transfer, where a parcel of land or other property subject to the Act on Acquisition of and Compensation for Land for Public Works Projects is transferred to the State, a local government, or any other corporation established pursuant to a Special Act; |
[This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 7 (Documents Jointly Prepared by the State) |
With regard to documents prepared jointly by the State, a local government, or an organization specified in subparagraph 4 of Article 6 (hereafter in this Article referred to as "State or a similar authority") and a counter-party and kept by each party, a document kept by the State or a similar authority shall be deemed to have been prepared by the counter-party, while the document kept by the counter-party shall be deemed to have been prepared by the State or a similar authority. [This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| (1) | The stamp tax shall be paid by affixing electronic revenue stamps for paper documents under Article 2 (2) 1 of the Revenue Stamp Act (hereinafter referred to as “electronic revenue stamps”) on a taxable document: Provided, That affixing electronic revenue stamps for paper documents may be substituted by paying an amount equivalent to the appropriate amount of stamp tax and indicating on the taxable document the fact that the stamp tax is paid, as prescribed by Presidential Decree. <Amended by Act No. 12171, Jan. 1, 2014; Act No. 12865, Dec. 30, 2014> |
| (2) | Notwithstanding the provisions of paragraph (1), upon receiving an application from a taxpayer, the Commissioner of the National Tax Service may permit the taxpayer to pay stamp taxes by cash by not later than the 10th day of the month following the month in which taxable documents are prepared, where such taxable documents are prepared continuously and recurrently. |
| (3) | The stamp tax on a taxable electronic document shall be paid by the method referred to in the proviso to paragraph (1), paragraph (2) or by any other method specified by Presidential Decree. |
[This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 8-2 (Determination or Correction) |
If a taxpayer obligated to pay the stamp tax fails to pay it under Article 8 or the amount of tax so paid is less than the amount payable, the head of the competent tax office or the commissioner of the competent regional tax office shall make a decision to determine or correct the amount of tax not paid or the amount of tax paid less. [This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 8-3 (Refund or Deduction of Amount of Tax) |
| (1) | Unless a taxable document is prepared after the amount of stamp tax is paid pursuant to Article 8, the amount of tax already paid shall be refunded or deducted from the amount of tax due. |
| (2) | Necessary matters regarding the procedure for application for refund under paragraph (1) shall be prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 8-4 (Special Exemption to Payment) |
Notwithstanding the provisions of Article 8, the Commissioner of the Korea Intellectual Property Office shall collect the stamp tax on a certificate of the transfer of a patent right, a utility model right, design right, or trademark right, among intangible property rights under Article 3 (1) 5, and pay it to the competent tax office by the payment deadline and in the payment method prescribed by Ordinance of the Ministry of Strategy and Finance. [This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 9 (Recalculation of Amount of Tax) |
Where a stated amount is changed after a taxable document referred to in Article 3 (1) 1 through 3, 5 and 6 is prepared, the amount of stamp tax shall be calculated, as prescribed by Presidential Decree. [This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 10 (Cancellation of Stamp) |
Where an electronic revenue stamp for paper documents is affixed on a taxable document in accordance with the main sentence of Article 8 (1), a person who prepares the taxable document shall cancel the stamp by entering the fact that an electronic revenue stamp for paper documents is used into the information communications network provided by an electronic revenue stamp agency (referring to a website selling electronic revenue stamps) pursuant to Article 3 (2) of the Revenue Stamp Act. <Amended by Act No. 12865, Dec. 30, 2014> [This Article Wholly Amended by Act No. 12171, Jan. 1, 2014]
| Article 11 (Inquiries or Inspections) |
| (1) | Where a tax official in charge of administrative affairs of the stamp tax deems it necessary for an investigation into the stamp tax, he or she may inquire or inspect a taxpayer of the stamp tax or a person who has a transaction with a taxpayer with regard to a taxable document. <Amended by Act No. 16106, Dec. 31, 2018> |
| (2) | Where a tax official in charge of administrative affairs of the stamp tax inquires or inspects pursuant to paragraph (1), he or she shall not abuse the authority beyond the scope necessary for performing the duties. <Newly Inserted by Act No. 16106, Dec. 31, 2018> |
[This Article Wholly Amended by Act No. 9917, Jan. 1, 2010]
| Article 12 Deleted. <by Act No. 9917, Jan. 1, 2010] |
ADDENDA
| (1) | (Enforcement Date) This Act shall enter into force on July 1, 1992. |
| (2) | (General Applicability) This Act shall apply beginning with the first taxable document prepared on or after this Act enters into force. |
ADDENDA <Act No. 5374, Aug. 28, 1997>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 1998.
Articles 2 through 7 Omitted.
ADDENDA <Act No. 6537, Dec. 29, 2001>
| (1) | (Enforcement Date) This Act shall enter into force on January 1, 2002. |
| (2) | (General Applicability) This Act shall apply beginning with the first taxable document prepared on or after this Act enters into force. |
| (3) | (Applicability to Additional Tax and Refund) The amended provisions of Articles 8-2 (2) and 8-3 shall apply beginning with the first taxable document prepared on or after this Act enters into force. |
| (4) | (Transitional Measure) Stamp taxes that have been imposed or shall be imposed pursuant to previous provisions before this Act enters into force shall be governed by previous provisions. |
ADDENDA <Act No. 7320, Dec. 31, 2004>
| (1) | (Enforcement Date) This Act shall enter into force on January 1, 2005. |
| (2) | (Applicability to Gift Certificates) The amended provisions of Article 3 (1) 10 shall apply beginning with the first gift certificate prepared on or after this Act enters into force. |
ADDENDA <Act No. 8139, Dec. 30, 2006>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2007. (Proviso Omitted).
Articles 2 through 16 Omitted.
ADDENDA <Act No. 8343, Apr. 11, 2007>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 11 Omitted.
Article 12 (Relationship to other Statutes and Regulations)
A citation of the former Tourism Promotion Act or any provision thereof by any other statute or regulation in force as at the time this Act enters into force shall be deemed a citation of this Act or the corresponding provision of this Act in lieu of the previous provision, if such a corresponding provision exists in this Act.
ADDENDUM <Act No. 8839, Jan. 9, 2008>
This Act shall enter into force on January 1, 2009.
ADDENDA <Act No. 8852, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 7 Omitted.
ADDENDA <Act No. 9917, Jan. 1, 2010>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2010: Provided, That the amended provisions of Articles 3 (3) and 8 (3) shall enter into force on January 1, 2011. Article 2 (General Applicability)
This Act shall apply beginning with the first taxable document prepared on or after this Act enters into force.
Article 3 (Applicability to Electronic Documents)
The amended provisions of Articles 3 (3) and 8 (3) shall apply beginning with the first taxable electronic document prepared on or after January 1, 2011. Article 4 (Transitional Measure)
Stamp taxes that have been imposed or shall be imposed pursuant to previous provisions before this Act enters into force shall be governed by the previous provisions.
ADDENDA <Act No. 11461, Jun. 1, 2012>
Article 1 (Enforcement Date)
This Act shall enter into force three months after the date of its promulgation.
Articles 2 through 10 Omitted.
ADDENDA <Act No. 11551, Dec. 18, 2012>
Article 1 (Enforcement Date)
This Act shall enter into force one year after the date of its promulgation.
Article 2 Omitted.
ADDENDA <Act No. 12171, Jan. 1, 2014>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2014.
Article 2 (General Applicability)
This Act shall apply beginning with the first taxable document prepared after this Act enters into force.
Article 3 (Applicability to Taxable Electronic Documents)
The amended provisions of Article 3 (3) shall apply beginning with the first taxable documents prepared on or after January 1, 2015. Article 4 (Transitional Measures concerning Affixing Electronic Revenue Stamps)
Notwithstanding the amended provisions of Articles 8 (1) and 10, stamp tax may be payed and cancelled with revenue stamps other than electronic revenue stamps, as prescribed by the previous provisions, until December 31, 2014.
ADDENDA <Act No. 12865, Dec. 30, 2014>
Article 1 (Enforcement Date)
This Act shall enter into force on July 1, 2017.
Article 2 Omitted.
ADDENDA <Act No. 14048, Mar. 2, 2016>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation.
Article 2 (Applicability to Non-Taxable Documents)
The amended provisions of subparagraph 8 of Article 6 shall apply beginning with the first taxable document to be prepared after this Act enters into force.
ADDENDA <Act No. 15331, Dec. 30, 2017>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2018.
Article 2 (Applicability to Taxable Documents and Amount of Tax)
The amended provisions of Article 3 (1) 7 (a) shall apply beginning with the first application for membership of a credit card after this Act enters into force.
ADDENDA <Act No. 16106, Dec. 31, 2018>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2019: Provided, That the amended provisions of Article 3 (1) 8 shall enter into force on January 1, 2020. Article 2 (Applicability to Taxable Mobile Gift Certificates)
The amended provisions of Article 3 (1) 8 shall apply beginning with the mobile gift certificates first issued after the enforcement date of this Act.