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STATUTES

THE REPUBLIC OF KOREA

Volume

COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

Wholly Amended by Act No. 7328, Jan. 5, 2005

Amended by Act No. 7836, Dec. 31, 2005

Act No. 8235, Jan. 11, 2007

Act No. 8435, May 17, 2007

Act No. 8830, Dec. 31, 2007

Act No. 8852, Feb. 29, 2008

Act No. 9273, Dec. 26, 2008

Act No. 9555, Apr. 1, 2009

Act No. 9710, May 27, 2009

Act No. 10220, Mar. 31, 2010

Act No. 10221, Mar. 31, 2010

Act No. 10789, Jun. 7, 2011

Act No. 11690, Mar. 23, 2013

Act No. 12153, Jan. 1, 2014

Act No. 12844, Nov. 19, 2014

CHAPTER I GENERAL PROVISIONS

Article 1 (Purpose)

Article 1

The purpose of this Act is to contribute to balanced budgetary financing of local governments and sound development of the national economy through promotion of fairness in tax liabilities in relation to possession of real estate property and stabilization of real estate prices by levying comprehensive real estate holding tax on persons possessing high-amount real estate property.

Article 2 (Definitions)

The definitions of terms used in this Act shall be as follows: <Amended by Act No. 7836, Dec. 31, 2005; Act No. 10221, Mar. 31, 2010>

1. The term "Si/Gun/Gu" means a Si/Gun/autonomous Gu (hereinafter referred to as "Si/Gun") which is a local government as defined in Article 2 of the Local Autonomy Act;

2. The term "the head of a Si/Gun/Gu" means the head of a Si/Gun/autonomous Gu (hereinafter referred to as "the head of a Si/Gun" who is the head of a local government;

3. The term "housing" means housing as defined in subparagraph 3 of Article 104 of the Local Tax Act: Provided, That a villa referred to in Article 13 (3) 1 of the same Act shall be excluded;

4. The term "land" means land as defined in subparagraph 1 of Article

Article 2

104 of the Local Tax Act;

5. The term "housing property tax" means a property tax levied on housing pursuant to Articles 105 and 107 of the Local Tax Act;

6. The term "land property tax" means a property tax levied on land pursuant to Articles 105 and 107 of the Local Tax Act;

7. Deleted; <by Act No. 7836, Dec. 31, 2005>

8. The term "household" means any family member prescribed by Presidential Decree who lives together with an owner of housing or land and his/her spouse;

9. The term "publicly notified price" means the prices of housing and land publicly notified under the Public Notice of Values and Appraisal of Real Estate Act, which are subject to public notification under the same Act: Provided, That where such prices are not publicly notified under the same Act, prices referred to in the proviso to Article 4 (1) of the Local Tax Act and paragraph (2) of the same Article shall apply.

Article 3 (Date of Taxation)

The date of taxation for comprehensive real estate holding tax shall be the base date of property tax prescribed in Article 114 of the Local Tax Act. <Amended by Act No. 10221, Mar. 31, 2010>

Article 3

Article 4 (Place for Tax to be Paid)

(1) Where a taxpayer liable for comprehensive real estate holding tax is an organization which is not deemed to be individual or corporation, Article 6 of the Income Tax Act shall apply mutatis mutandis in determining a place for tax to be paid.

(2) Where a taxpayer liable to comprehensive real estate holding tax is deemed to be a corporation or an organization, Article 9 (1) through (3) of the Corporate Tax Act shall apply mutatis mutandis in determining a place of tax payment.

(3) Where a taxpayer liable for comprehensive real estate holding tax is a non-resident individual or foreign company, does not have a domestic place of business, and possesses housing and land, from which domestic source income is not accrued, a place of tax payment shall be a place where such housing and land are located (referring to the location of housing or land, the publicly notified land price of which is the highest where two or more plots of housing or land exists). <Newly Inserted by Act No. 9273, Dec. 26, 2008>

Article 5 (Tax Classification and Amount of Tax)

(1) The amount of comprehensive real estate holding tax shall be determined by summing up each amount of comprehensive real estate holding tax levied, respectively, on housing and land.

(2) The amount

Article 4 ~ 5

of comprehensive real estate holding tax on land shall be determined by summing up the amount of general aggregate tax on land under Article 14 (1) through (3) and the amount of special aggregate tax on land under paragraphs (4) through (6) of the same Article. <Amended by Act No. 7836, Dec. 31, 2005>

Article 6 (Non-Taxation, etc.)

(1) The provisions of the Restriction of Special Local Taxation Act or the Restriction of Special Taxation Act governing non-taxation of property tax or property tax exemption or reduction (hereinafter referred to as "provisions on property tax reduction and exemption") shall apply mutatis mutandis to the imposition of comprehensive real estate holding tax. <Amended by Act No. 10220, Mar. 31, 2010>

(2) The provisions on property tax reduction and exemption under ordinances of a Si/Gun pursuant to Article 4 of the Restriction of Special Local Taxation Act shall apply mutatis mutandis to the imposition of comprehensive real estate holding tax. <Amended by Act No. 10220, Mar. 31, 2010>

(3) In applying mutatis mutandis of the provisions on property tax reduction and exemption pursuant to paragraphs (1) and (2), the publicly notified price shall be determined by deducting the amount calculated by the publicly notified price multiplied by the exemption and reduction rate of property taxes (100 percentage in cases of non-taxation or exemption of taxes) from the publicly notified price of eligible housing and land. <Amended by Act No. 7836, Dec. 31, 2005>

Article 6

(4) Where it is deemed inappropriate to reduce the comprehensive real estate holding tax pursuant to the provisions on property tax reduction and exemption or separate taxation provisions under ordinances of a Si/Gun on reduction and exemption of property taxes provided for in paragraph (2) for the purposes of imposing comprehensive real estate holding tax in cases prescribed by Presidential Decree, paragraph (2) or such separate taxation provisions shall not apply in imposing the comprehensive real estate holding tax.

CHAPTER II TAXATION ON HOUSING

Article 7 (Taxpayers)

(1) Any taxpayer who is liable for property taxes on housing as at the date of taxation, and whose aggregate of publicly notified prices of domestic housings subject to property tax exceeds 600 million won shall be liable to pay comprehensive real estate holding tax. <Amended by Act No. 7836, Dec. 31, 2005; Act No. 9273, Dec. 26, 2008>

(2) and (3) Deleted. <by Act No. 9273, Dec. 26, 2008>

[This Article is Amended by Act No. 9723 promulgated on December 26, 2008 following the decision of unconstitutionality made by the Constitutional Court on November 13, 2008]

Article 8 (Tax Bases)

(1) The tax base for comprehensive real estate holding tax on housing shall be

Article 7 ~ 8

determined by multiplying the fair market value ratio prescribed by Presidential Decree within the range from 60 to 100 percentage, in consideration of the real estate market situation, financial conditions, etc. by the amount which remains after deducting 600 million won from the aggregate amount of publicly notified prices of housing held by each taxpayer [in cases of one house per household prescribed by Presidential Decree, in which only one person among members of household owns the relevant housing as at the date of taxation (hereinafter referred to as "single house owner", the amount which remains after deducting 300 million won is subtracted from such aggregate amount] Provided, That where the amount is smaller than zero, it shall be deemed zero. <Amended by Act No. 7836, Dec. 31, 2005; Act No. 9273, Dec. 26, 2008>

(2) Any of the following housing shall be deemed excluded in the scope of housing subject to aggregation of tax base under paragraph (1): <Newly Inserted by Act No. 7836, Dec. 31, 2005; Act No. 9273, Dec. 26, 2008; Act No. 10789, Jun. 7, 2011>

1. Housing prescribed by Presidential Decree, in consideration of the rental period, number of housing units, price, and scale, such as rental housing as defined in subparagraph 1 of Article 2 of the Rental Housing Act or tenement rental housing prescribed by Presidential Decree;

2. Housing, other than housing provided for in subparagraph 1, prescribed by Presidential Decree which does not meet the purposes

Article 8

of imposing comprehensive real estate holding tax, such as a dormitory and employee housing for providing employees with a residence, unsold housing units which are constructed and owned by a housing construction business operator, housing for home-based nurseries, a single housing, etc. located in areas, other than the Seoul Metropolitan Area as defined in subparagraph 1 of Article 2 of the Seoul Metropolitan Area Readjustment Planning Act. In such cases, this shall be limited to housing, for which tax liabilities accrue during the period from January 1, 2009 to December 31, 2011 if such housing is a single housing located in an area, other than the Seoul Metropolitan Area.

(3) A taxpayer who owns any housing under paragraph (2) shall report his/her holding status of the relevant housing to the head of the district tax office having jurisdiction over the place of tax paid (hereinafter referred to as "head of the competent district tax office") from September 16th and September 30th of the relevant year, as prescribed by President Decree. <Newly Inserted by Act No. 8235, Jan. 11, 2007>

(4) For the purposes of paragraph (1), where a taxpayer owns a single housing (excluding where a taxpayer owns appurtenant land to housing only) and appurtenant land to other housing (referring to appurtenant land where owners of a housing building and appurtenant land thereto are different persons), he/she shall be deemed a single house owner. <Newly Inserted by Act No. 9710, May 27, 2009>

Article 8

[Amended by Act No. 9273 promulgated on December 26, 2008 following the decision of inconsistency with the Constitution by the Constitutional Court]

Article 9 (Tax Rates and Amounts of Tax)

(1) The amount of comprehensive real estate holding tax on housing shall be the amount calculated by multiplying the tax base by the following applicable tax rate (hereinafter referred to as "amount of comprehensive real estate holding tax on housing"):

Table

(2) Deleted. <by Act No. 9273, Dec. 26, 2008>

(3) In calculating the tax base on housing, the amount of property taxes levied on the relevant taxable housing (where a tax rate increased or decreased under Article 111 (3) of the Local Tax Act is applied, referring to the amount of tax to which such tax rate applies; and where ceilings of tax burden apply under Article 122 of the same Act, referring to the amount of tax to which such upper ceilings apply) shall be deducted from the amount of comprehensive real estate holding tax on the housing. <Newly Inserted by Act No. 7836, Dec. 31, 2005; Act No. 9273, Dec. 26, 2008; Act No. 10221, Mar. 31, 2010>

(4) In calculating the amount of comprehensive real estate holding tax on housing, matters necessary concerning tax credits, etc. for the property tax on housing shall be prescribed by Presidential

Article 9

Decree. <Newly Inserted by Act No. 7836, Dec. 31, 2005>

(5) When a taxpayer of comprehensive real estate holding tax on housing is a single house owner, the amount of such comprehensive real estate holding tax on housing shall be the amount which remains after deducting tax credits granted to a single house owner under paragraph (6) or (7) from the amount of tax calculated under paragraphs (1), (3), and (4). In such cases, paragraphs (6) and (7) may apply concurrently. <Newly Inserted by Act No. 9273, Dec. 26, 2008>

(6) A tax credit for a single house owner above the age of 60 as at the date of taxation shall be determined by multiplying the amount of tax calculated under paragraphs (1), (3), and (4) [where falling under Article 8 (4), the amount remaining after subtracting the amount of calculated tax (referring to the amount calculated by subtracting the amount of appurtenant land proportionally from the aggregate of publicly notified prices) for the appurtenant land to housing (referring to appurtenant land where owners for a housing building and appurtenant land thereto are different persons) from the amount of tax calculated under paragraphs (1), (3), and (4))] by the following deduction rate under each age category: <Newly Inserted by Act No. 9710, May 27, 2009>

Table

(7) A tax credit for a taxpayer who is a single house owner and has held the relevant housing for at least five years as at the date of taxation shall be determined by multiplying the amount of tax

Article 9

calculated under paragraphs (1), (3), and (4) [where falling under Article 8 (4), the amount remaining after subtracting the amount of calculated tax (referring to the amount calculated by subtracting the amount of appurtenant land proportionally from the aggregate of publicly notified prices) for the appurtenant land to housing (referring to appurtenant land where owners for a housing building and appurtenant land thereto are different persons) from the amount of tax calculated under paragraphs (1), (3), and (4))] by the following deduction rate depending on a holding period: <Amended by Act No. 9710, May 27, 2009>

Table

Article 10 (Upper Limits on Tax Burden)

Where the amount of taxes calculated in accordance with Presidential Decree, which is the aggregate of the amount equivalent to the property tax on housing and the amount equivalent to comprehensive real estate holding tax on housing (hereafter referred to as "amount equivalent to total tax on housing" in this Article) the taxpayer subject to comprehensive real estate holding tax is obliged to pay for the relevant year exceeds 150/100 of the amount equivalent to total tax on housing concerned of the immediately preceding year computed in accordance with Presidential Decree, notwithstanding Article 9, the excess shall be deemed non-existent notwithstanding Article 9. <Amended by Act No. 7836, Dec. 31, 2005; Act No. 9273, Dec. 26, 2008>

CHAPTER III TAXATION ON LAND

Article 10

Article 11 (Methods of Taxation)

Comprehensive real estate holding tax on land located in Korea shall be imposed by classifying it into land subject to general aggregate taxation under Article 106 (1) 1 of the Local Tax Act (hereinafter referred to as "land subject to general aggregate taxation") and land subject to special aggregate taxation under Article 106 (1) 2 of the same Act (hereinafter referred to as "land subject to special aggregate taxation"). <Amended by Act No. 10221, Mar. 31, 2010>

Article 12 (Taxpayers)

(1) A taxpayer subject to property tax on land as of the date of taxation who falls under any of the following subparagraphs is liable to pay comprehensive real estate holding tax on the relevant land: <Amended by Act No. 7836, Dec. 31, 2005; Act No. 9273, Dec. 26, 2008>

1. Where the land is subject to general aggregate taxation, a person for whom the aggregate of publicly notified prices for the relevant taxable land which is domestically located exceeds 500 million won;

2. Where the land is subject to special aggregate taxation, a person for whom the aggregate of publicly notified prices for the relevant taxable land which is domestically located exceeds 8 billion won.

(2) Deleted. <by Act No. 9273, Dec. 26, 2008>

Article 11 ~ 12

Article 13 (Tax Bases)

(1) The tax base for comprehensive real estate holding tax on land subject to general aggregate taxation shall be determined by multiplying the amount which remains after deducting 500 million won from the aggregate amount of publicly notified prices of relevant taxable lands by taxpayer by the fair market value ratio prescribed by Presidential Decree within a range from 60/100 to 100/100, in consideration of real estate market conditions, financial situations, etc. <Amended by Act No. 9273, Dec. 26, 2008>

(2) The tax base for comprehensive real estate holding tax on land subject to special aggregate taxation shall be determined by multiplying the amount which remains after deducting 8 billion won from the aggregate amount of public notified prices of relevant taxable lands by taxpayer by the fair market value ratio prescribed by Presidential Decree within a range from 60/100 to 100/100, in consideration of real estate market conditions, financial situations, etc. <Amended by Act No. 9273, Dec. 26, 2008>

(3) Where the amount in paragraph (1) or (2) is less than zero, such amount shall be deemed zero.

Article 14 (Tax Rates and Amounts of Tax)

Article 13 ~ 14

Table

(2) Deleted. <by Act No. 9273, Dec. 26, 2008>

(3) The amount of property tax imposed on the relevant taxable land (where a tax rate increased or decreased under Article 111 (3) of the Local Tax Act is applied, referring to the amount of tax to which such tax rate applies; and where ceilings of tax burden apply under Article 122 of the same Act, referring to the amount of tax to which such ceilings apply) with regard to the tax base for land subject to general aggregate taxation shall be deducted from the amount of general aggregate tax on land. <Newly Inserted by Act No. 7836, Dec. 31, 2005; Act No. 9273, Dec. 26, 2008; Act No. 10221, Mar. 31, 2010>

(4) The amount of comprehensive real estate holding tax on land subject to special aggregate taxation shall be an amount (hereinafter referred to as "amount of special aggregate tax on land") calculated by applying the following tax rates to the tax base.

Table

(5) Deleted. <by Act No. 9273, Dec. 26, 2008>

(6) In calculating the tax base for land subject to special aggregate taxation, the amount of property tax imposed on the relevant taxable land (where a tax rate increased or decreased under Article 111 (3) of the Local Tax Act is applied, referring to the amount of tax to which such tax rate applies; and where ceilings

Article 14

of tax burden apply under Article 122 of the same Act, referring to the amount of tax to which such ceilings apply) shall be deducted from the amount of special aggregate tax on land. <Newly Inserted by Act No. 7836, Dec. 31, 2005; Act No. 9273, Dec. 26, 2008; Act No. 10221, Mar. 31, 2010>

(7) Matters necessary regarding tax credits, etc. for property tax on land in calculating the amount of comprehensive real estate holding tax on land shall be prescribed by Presidential Decree. <Newly Inserted by Act No. 7836, Dec. 31, 2005>

Article 15 (Upper Limits on Tax Burden)

(1) Where the amount of taxes calculated in accordance with Presidential Decree, which is the aggregate of the amount equivalent to the property tax on housing and the amount equivalent to general aggregate tax on land (hereafter referred to as "amount equivalent to total tax on land subject to general aggregate taxation" in this Article) a taxpayer subject to comprehensive real estate holding tax is obliged to pay in relation to land subject to general aggregate taxation for the relevant year exceeds 150/100 of the amount equivalent to total tax on the relevant land subject to general aggregate taxation of the immediately preceding year computed in accordance with Presidential Decree, notwithstanding Article 14 (1), the excess shall be deemed non-existent. <Amended by Act No. 7836, Dec. 31, 2005; Act No. 9273, Dec. 26, 2008>

(2) Where the amount

Article 15

of taxes calculated in accordance with Presidential Decree, which is the aggregate of the amount equivalent to the property tax on housing and the amount equivalent to special aggregate tax on land (hereafter referred to as "amount equivalent to total tax on land subject to special aggregate taxation" in this Article) a taxpayer subject to comprehensive real estate holding tax is obliged to pay in relation to land subject to special aggregate taxation for the relevant year exceeds 150/100 of the amount equivalent to total tax on the relevant land subject to separate aggregate taxation of the immediately preceding year computed in accordance with Presidential Decree, notwithstanding Article 14 (4), the excess shall be deemed non-existent. <Amended by Act No. 7836, Dec. 31, 2005; Act No. 9273, Dec. 26, 2008>

CHAPTER IV IMPOSITION, COLLECTION, ETC.

Article 16 (Imposition, Collection, etc.)

(1) The head of the competent district tax office shall determine the due amount of comprehensive real estate holding tax, impose and collect the taxes during the period of December 1st through December 15th of the relevant year (hereinafter referred to as "payment period").

(2) Where the head of the competent district tax office intends to collect comprehensive real estate holding taxes he/she shall indicate the tax base and the amount of tax on the notice of tax payment by distinguishing between housing and land, and issue

Article 16

such notice five days prior to the commencement of payment period.

(3) Notwithstanding paragraphs (1) and (2), a taxpayer who intends to pay comprehensive real estate holding tax on a self-assessment basis shall report the tax base of comprehensive real estate holding tax and the amount of tax to the head of the competent district tax office by the period of December 1 through December 15 of the relevant year, as prescribed by Presidential Decree. In such cases, decisions made under paragraph (1) shall be deemed non-existent.

(4) A taxpayer who filed a tax return under paragraph (3) shall pay comprehensive real estate holding tax to the head of district tax office, the Bank of Korea or post office within a payment deadline in accordance with Presidential Decree.

(5) Necessary matters concerning imposition procedures and collection of comprehensive real estate holding tax under paragraphs (1) and (2) shall be determined by Presidential Decree.

[This Article Wholly Amended by Act No. 8235, Jan. 11, 2007]

Article 17 (Determination and Reassessment)

(1) Where it is necessary to newly impose comprehensive real estate holding tax due to an omission in taxable subject matter, violation of law, errors, etc. or to reassess taxes already imposed, the head of the competent district tax office or the commissioner of the competent regional tax office (hereinafter referred to as "the head of the competent regional tax office")

Article 17

may re-impose or re-collect taxes. <Amended by Act No. 8235, Jan. 11, 2007>

(2) Where any omission or error exists in a tax return filed by a person under Article 16 (3), the head of the competent district tax office or the head of the competent regional tax office shall reassess the tax base and the amount of tax for the current year. <Amended by Act No. 8235, Jan. 11, 2007>

(3) Where any omission or error is found in the determined or reassessed tax base and amount of tax after such determination and reassessment are made, the head of the competent district tax office or the head of the competent regional tax office shall reassess the same. <Amended by Act No. 9273, Dec. 26, 2008>

(4) Where grounds for reassessment under paragraphs (2) and (3) fall under grounds for changing the amount of tax of property tax or for occasional assessment under Article 115 (2) of the Local Tax Act, the head of the competent district tax office or the head of the competent regional tax office shall reassess the tax base and amount of tax of comprehensive real estate holding tax, as prescribed by Presidential Decree. <Amended by Act No. 9273, Dec. 26, 2008; Act No. 10221, Mar. 31, 2010>

(5) Where rental housing referred to in Article 8 (2) 1 or housing for home-based nursery referred to in subparagraph 2 of the same paragraph which are excluded from the category of housing subject

Article 17

to aggregation of tax base under Article 8 (2) becomes falls short of such requirements afterwards, the head of the competent district tax office or the head of the competent regional tax office shall additionally collect the amount of tax reduced or exempted and the additional amount equivalent to interest thereon, as prescribed by Presidential Decree. <Newly Inserted by Act No. 9273, Dec. 26, 2008; Act No. 10789, Jun. 7, 2011>

Article 18 Deleted. <by Act No. 8235, Jan. 11, 2007>

Article 19 (Payment in Kind)

Where the amount of comprehensive real estate holding tax exceeds ten million won, the head of the competent district tax office may allow taxpayers to pay in kind, as prescribed by Presidential Decree.

Article 20 (Payment in Installment)

Where the amount of comprehensive real estate holding tax exceeds five million won, the head of the competent district tax office may allow a taxpayer to pay, in part, his/her due taxes in installment within two months from the date on which the payment deadline expires, as prescribed by Presidential Decree. <Amended by Act No. 9273, Dec. 26, 2008>

CHAPTER V SUPPLEMENTARY PROVISIONS

Article 21 (Provision of Taxation Data)

(1) Among property

Article 18 ~ 21

taxation data for the relevant year under the Local Tax Act, the head of a Si/Gun shall submit the property taxation data on housing by July 31, and the property taxation data on land by September 30 to the Minister of Government Administration and Home Affairs: Provided, That where grounds for changing the amount of property tax or occasional assessment under Article 115 (2) of the Local Tax Act arise, the head of a Si/Gun shall semi-annually submit such taxation data to the Minister of Government Administration and Home Affairs within ten days from the date each half-year term ends. <Amended by Act No. 8852, Feb. 29, 2008; Act No. 10221, Mar. 31, 2010; Act No. 11690, Mar. 23, 2013; Act No. 12153, Jan. 1, 2014; Act No. 12844, Nov. 19, 2014>

(2) The Minister of Government Administration and Home Affairs shall conduct audit for taxpayers subject to comprehensive real estate holding tax on housing prescribed in Article 7, calculate the tax base and the amount of tax by taxpayer, and notify the Commissioner of National Tax Service of the results thereof by August 31 of each year, as prescribed by Presidential Decree. <Amended by Act No. 8852, Feb. 29, 2008; Act No. 11690, Mar. 23, 2013; Act No. 12153, Jan. 1, 2014; Act No. 12844, Nov. 19, 2014>

(3) The Minister of Government Administration and Home Affairs shall conduct audit for taxpayers subject to comprehensive real estate holding tax on land under Article 12, calculate the tax base and the amount of tax by liable taxpayer, and notify the Commissioner of National Tax Service of the results thereof by

Article 21

October 15 of each year, as prescribed by Presidential Decree. <Amended by Act No. 8852, Feb. 29, 2008; Act No. 9273, Dec. 26, 2008; Act No. 11690, Mar. 23, 2013; Act No. 12153, Jan. 1, 2014; Act No. 12844, Nov. 19, 2014>

(4) Where grounds for changing the amount of property tax or occasional assessment under Article 115 (2) of the Local Tax Act arise, the Minister of Government Administration and Home Affairs shall re-calculate the tax base and amount of tax for property tax and comprehensive real estate holding tax on housing or land subject to property tax by taxpayer liable to property tax, and notify the Commissioner of the National Tax Service of the results thereof by the end of two months after the month in which the relevant quarter ends, as prescribed by Presidential Decree. <Amended by Act No. 7836, Dec. 31, 2005; Act No. 8852, Feb. 29, 2008; Act No. 9273, Dec. 26, 2008; Act No. 10221, Mar. 31, 2010; Act No. 11690, Mar. 23, 2013; Act No. 12153, Jan. 1, 2014; Act No. 12844, Nov. 19, 2014>

(5) The Minister of Government Administration and Home Affairs shall notify the Commissioner of National Tax Service of taxation data on property tax submitted by the head of each Si/Gun under paragraph (1) within ten days from the date specified in paragraph (1). <Amended by Act No. 7836, Dec. 31, 2005; Act No. 8852, Feb. 29; Act No. 11690, Mar. 23, 2013; Act No. 12153, Jan. 1, 2014; Act No. 12844, Nov. 19, 2014>

(6) Where necessary for identifying, etc. members of household of a taxpayer

Article 21

liable to compehensive eal estate holding tax, the Minister of Government Administration and Home Affairs or the Commissioner of National Tax Service may request the head of related institutions to submit the electronic data on family relationship registration, and the head of related institutions in receipt of a request to submit such data shall comply therewith unless any justifiable ground exists. <Newly Inserted by Act No. 8235, Jan. 11, 2007; Act No. 8435, May 17, 2007; Act No. 8852, Feb. 29, 2008; Act No. 11690, Mar. 23, 2013; Act No. 12153, Jan. 1, 2014; Act No. 12844, Nov. 19, 2014>

Article 22 (Obligation of Cooperation of Heads of Si/Gun)

(1) The head of the competent district tax office or the commissioner of competent regional tax office may request opinions from the heads of Sis/Guns with jurisdiction over taxable subject matters in connection with taxation of comprehensive real estate holding tax, as prescribed by Presidential Decree.

(2) The heads of Sis/Guns who received inquires to submit opinions under paragraph (1) shall reply to the head of the competent district tax office or the commissioner of competent regional tax office within 20 days from the receipt of such inquiries of opinions, as prescribed by President Decree.

Article 23 (Questions and Examination)

Any public official engaged in activities related with comprehensive real estate holding tax may, where necessary to conduct his/her official

Article 22 ~ 23

activities, ask questions to a person falling under any of the following subparagraphs, examine book records, documents, and other articles, or order such person to submit such book records, documents and other articles:

1. A taxpayer or a person who is deemed to have tax liabilities;

2. A person responsible for business or management under Article 109 (2) 3 of the Corporate Tax Act;

3. A person who is deemed to have transactional relations with persons prescribed in subparagraph 1.

Article 24 (Perusal, etc. of Sales, Registry and Registration Relation Documents)

Where the head of the competent district tax office, the commissioner of the competent regional tax office or any tax official to whom authority is delegated makes a request for perusal or copies in relation to sales, registry, registration, and other status of taxable subject matters, such as housing, land, etc. for the purposes of imposing comprehensive real estate holding tax and collecting thereof, the related institutions shall comply with such request.

Article 25 Deleted. <by Act No. 8830, Dec. 31, 2007>

ADDENDA

Article 1 (Enforcement Date)

Addenda

This Act shall enter into force on the date of its promulgation.

Article 2 (General Applicability)

This Act shall apply to comprehensive real estate holding taxes for which first tax liabilities are established after this Act enters into force.

Article 3 Deleted.

Article 4 Omitted.

ADDENDA <Act No. 7836, Dec. 31, 2005>

(1) (Enforcement Date) This Act shall enter into force on the date of its promulgation.

(2) (General Applicability) This Act shall apply beginning from the first case for which tax liabilities are established after this Act enters into force.

ADDENDA <Act No. 8235, Jan. 11, 2007>

(1) (Enforcement Date) This Act shall enter into force on January 1, 2008.

(2) (General Applicability) This Act shall apply beginning from the first case for which tax liabilities are established after this Act enters into force.

Addenda

ADDENDA <Act No. 8435, May 17, 2007>

Article 1 (Enforcement Date)

This Act shall enter into force on January 1, 2008. (Proviso Omitted.)

Articles 2 through 9 Omitted.

ADDENDA <Act No. 8830, Dec. 31, 2007>

Article 1 (Enforcement Date)

This Act shall enter into force on January 1, 2008. (Proviso Omitted.)

Articles 2 through 5 Omitted.

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. 9273, Dec. 26, 2008>

Article 1 (Enforcement Date)

This Act shall enter

Addenda

into force on the date of its promulgation.

Article 2 (General Applicability)

This Act shall apply beginning from the first case for which tax liabilities are established after this Act enters into force.

Article 3 (Special Applicability to Application Rate of Tax Base)

(1) The amount of comprehensive real estate holding tax on housing for which tax liability is established in the year to which the promulgation date of this Act belongs shall be determined by multiplying the tax base under the provisions of previous Article 8 by an application rate of 80/100 and a tax rate under the provisions of previous Article 9 (1).

(2) The amount of comprehensive real estate holding taxes on land subject to general aggregate taxation for which tax liability is established in the year to which the promulgation date of this Act belongs shall be determined by multiplying the tax base under the provisions of previous Article 13 (1) by an application rate of 80/100 and a tax rate under the provisions of previous Article 14 (1).

Article 4 (Applicability to Tax Credit for Single House Owner)

The amended provisions of Article 9 (5), (6) and (7) shall apply beginning from first case for which tax liability is established in the year to which the promulgation date of this Act belongs.

Addenda

Article 5 (Applicability to Upper Limits on Tax Burden)

The amended provisions of Articles 10 and 15 shall apply beginning from first case for which tax liability is established in the year to which the promulgation date of this Act belongs.

Article 6 (Applicability to Tax Payment in Installment)

The amended provisions of Article 20 shall apply beginning from the first tax returns, determination of taxation and reassessment performed with regard to comprehensive real estate holding tax after this Act enters into force.

Article 7 (Applicability to Provision of Taxation Documents)

The amended provisions of Article 21 shall apply beginning from the first taxation documents provided after this Act enters into force.

Article 8 (Applicability to Tax Rate and Amount of Tax)

In cases where Article 9 (3) applies to cases for which tax liability is established as of June 1, 2008, the provisions of Articles 187 (including Article 5 of the Addenda of the partial Amendments to the Local Tax Act, Act No. 7843) and 195-2 of the Local Tax Act before the revision made by the partial Amendments to the Local Tax Act, No. 9422 shall apply.

<This Article

Addenda

Newly Inserted by Act No. 9555, Apr. 1, 2009>

ADDENDUM <Act No. 9555, Apr. 1, 2009>

This Act shall enter into force on the date of its promulgation.

ADDENDA <Act No. 9710, May 27, 2009>

(1) (Enforcement Date) This Act shall enter into force on the date of its promulgation.

(2) (General Applicability) This Act shall apply beginning with first case for which tax liability is established in the year to which the promulgation date of this Act belongs.

ADDENDA <Act No. 10220, Mar. 31, 2011>

Article 1 (Enforcement Date)

This Act shall enter into force on January 1, 2011.

Articles 2 through 5 Omitted.

ADDENDA <Act No. 10221, Mar. 31, 2011>

Article 1 (Enforcement Date)

This Act shall enter into force on January 1, 2011.

Articles 2 through 8 Omitted.

Addenda

ADDENDA <Act No. 10789, Jun. 7, 2011>

Article 1 (Enforcement Date)

This Act shall enter into force six months after the date of its promulgation. (Proviso Omitted.)

Articles 2 through 6 Omitted.

ADDENDA <Act No. 11690, Mar. 23, 2013>

Article 1 (Enforcement Date)

(1) This Act shall enter into force on the date of its promulgation.

(2) Omitted.

Articles 2 through 7 Omitted.

ADDENDA <Act No. 12153, Jan. 1, 2014>

Article 1 (Enforcement Date)

This Act shall enter into force on January 1, 2014. (Proviso Omitted.)

Articles 2 through 19 Omitted.

ADDENDA <Act No. 12844, Nov. 19, 2014>

Article 1 (Enforcement Date)

Addenda

This Act shall enter into force on the date of its promulgation: Provided, That amendments to Acts that were already promulgated before this Act enters into force, but not yet have entered into force among Acts amended pursuant to Article 6 of the Addenda shall enter into force on the date the respective Act enters into force.

Articles 2 through 7 Omitted.

Addenda

COMPREHENSIVE REAL ESTATE HOLDING TAX ACT
- Articles
- Addenda

1. 종합부동산세법

2025-12-23 / 제21224호 / 시행 2026-01-01
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

2. 종합부동산세법

2025-03-14 / 제20779호 / 시행 2025-03-14
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

3. 종합부동산세법

2023-04-18 / 제19342호 / 시행 2023-04-18
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

4. 종합부동산세법

2017-07-26 / 제14839호 / 시행 2017-07-26
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

5. 종합부동산세법

2016-03-02 / 제14050호 / 시행 2016-03-02
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

6. 종합부동산세법

2016-01-19 / 제13796호 / 시행 2016-09-01
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

7. 종합부동산세법

2015-08-28 / 제13499호 / 시행 2015-12-29
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

8. 종합부동산세법

2014-11-19 / 제12844호 / 시행 2014-11-19
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

9. 종합부동산세법

2014-01-01 / 제12153호 / 시행 2014-01-01
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

10. 종합부동산세법

2013-03-23 / 제11690호 / 시행 2013-03-23
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

11. 종합부동산세법

2011-06-07 / 제10789호 / 시행 2011-12-08
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

12. 종합부동산세법

2010-03-31 / 제10221호 / 시행 2011-01-01
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

13. 종합부동산세법

2010-03-31 / 제10220호 / 시행 2011-01-01
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

14. 종합부동산세법

2009-05-27 / 제9710호 / 시행 2009-05-27
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

15. 종합부동산세법

2009-04-01 / 제9555호 / 시행 2009-04-01
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

16. 종합부동산세법

2008-12-26 / 제9273호 / 시행 2008-12-26
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

17. 종합부동산세법

2008-02-29 / 제8852호 / 시행 2008-02-29
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

18. 종합부동산세법

2007-12-31 / 제8830호 / 시행 2008-01-01
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

19. 종합부동산세법

2007-05-17 / 제8435호 / 시행 2008-01-01
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

20. 종합부동산세법

2007-01-11 / 제8235호 / 시행 2007-01-01
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

21. 종합부동산세법

2005-12-31 / 제7836호 / 시행 2005-12-31
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

22. 종합부동산세법

2005-01-05 / 제7328호 / 시행 2005-01-05
COMPREHENSIVE REAL ESTATE HOLDING TAX ACT

<Tax Bases>	<Tax Rates>
Up to 600 million won	5/1,000
From 600 million won to not exceeding 1.2 billion won	3 million won + (7.5/1,000 of amount in excess of 600 million won)
From 1.2 billion won to not exceeding 5 billion won	7.5 million won + (10/1,000 of amount in excess of 1.2 billion won)
From 5 billion won to not exceeding 9.4 billion won	45.5 million won + (15/1,000 of amount in excess of 5 billion won)
Over 9.4 billion won	111.5 million won + (20/1,000 of amount in excess of 9.4 billion won)

Age	Deduction Rate
Over 60 and less than 65	10/100
Over 65 and less than 70	20/100
Over 70	30/100

Holding Periods	Deduction Rates
More than five years but less than ten years	20/100
Ten years or longer	40/100

<Tax Bases>	<Tax Rates>
Up to 1.5 billion won	7.5/1,000
From 1.5 billion won to not exceeding 4.5 billion	11.25 million won + (15/1,000 of the amount exceeding 1.5 billion won)
Over 4.5 billion won	56.25 million won + (20/1,000 of the amount exceeding 4.5 billion won)

<Tax Bases>	<Tax Rates>
Up to 20 billion won	5/1,000
From 20 billion won to not exceeding 40 billion	100 million won + (6/1,000 of the amount exceeding 20 billion won)
Over 40 billion won	220 million won + (7/1,000 of the amount exceeding 40 billion won)