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ACT ON RESTRICTION ON SPECIAL CASES CONCERNING TAXATION
CHAPTER V-10 SPECIAL TAXATION FOR BUSINESS RESTRUCTURING PLANS
조문단위인쇄
 Article 88-2 (Special Taxation on Tax-Free Comprehensive Savings)
(1) Where any of the following residents opens a savings account prescribed by Presidential Decree (hereafter in this Article, referred to as"tax-free comprehensive savings"), with the maximum principal savings not exceeding 50 million won (if a resident who has a tax-favored comprehensive savings account under Article 89 has not terminated or closed the account, the amount of savings shall be determined by subtracting the total contract amount on the tax-favored comprehensive savings account held by the resident from 50 million won), by not later than December 31, 2025, no income tax shall be levied on the interest income, dividend income, and financial investment income from the savings account: <Amended on Jan. 1, 2010; Dec. 31, 2011; Dec. 23, 2014; Dec. 22, 2015; Dec. 31, 2019; Dec. 29, 2020; Jan. 5, 2021, Dec. 28, 2021; Dec. 31, 2022>
1. A resident aged 65 or older;
2. A person with a disability registered under Article 32 of the Act on Welfare of Persons with Disabilities;
3. A person of distinguished service to independence, registered under Article 6 of the Act on the Honorable Treatment of Persons of Distinguished Service to Independence, his/her bereaved family, or his/her family;
4. A wounded person registered under Article 6 of the Act on the Honorable Treatment of and Support for Persons of Distinguished Service to the State;
5. A recipient defined in subparagraph 2 of Article 2 of the National Basic Living Security Act;
6. A patient suffering from actual or potential aftereffects of defoliants, defined in subparagraph 3 of Article 2 of the Act on Assistance to Patients Suffering from Actual or Potential Aftereffects of Defoliants and Establishment of Related Organizations;
7. A person wounded person in the May 18 Democratization Movement, as defined in subparagraph 2 of Article 4 of the Act on the Honorable Treatment of Persons of Distinguished Service to the May 18 Democratization Movement and Establishment of Related Organizations.
(2) Notwithstanding paragraph (1), Article 87-4 of the Income Tax Act shall apply to financial investment income where a resident files an application for exclusion from the application of that paragraph to the financial investment income accrued from a tax-free comprehensive savings account, as prescribed by Presidential Decree. <Added on Dec. 28, 2021>
(3) The procedure for subscribing to a tax-free comprehensive savings account, the verification of persons eligible for subscription, the method of calculating the total contract amount of such account, the method of operating and managing such account, and other necessary matters shall be prescribed by Presidential Decree. <Amended on Dec. 23, 2014; Dec. 31, 2019>
[This Article Added on Oct. 21, 2000]
[Title Amended on Dec. 23, 2014]