Mr. Kim was charged 121 million won in capital gains tax after selling a property, due to his failure to apply for a tax exemption for single-household, single-home owners. The National Tax Service (NTS) considered an officetel he owned as a residential property, thus disqualifying him from the exemption. The NTS has published ‘Underline, Real Estate Tax Checkpoint’ to highlight common mistakes in reporting real estate capital gains tax, and emphasized the importance of accurate and honest reporting.
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Auto-posted at: 2025-03-15 09:08:54