It was judged that it would be unfair to impose a gift tax if it is confirmed that the borrowed money has been repaid even if it is borrowed from the parents to acquire real estate without writing a contract.
The Anti-Corruption and Civil Rights Commission announced today (24th) that it was unreasonable to impose a gift tax on the son even though it was confirmed that the son had repaid the money borrowed from his father, and recommended the tax office to make a correction to cancel the gift tax disposition.
According to the Anti-Corruption and Civil Rights Commission, A borrowed 300 million won from his father when he ran out of mid-payment while acquiring an apartment, and then repaid a total of 270 million won by borrowing 200 million won using the apartment as collateral.
However, the tax administration imposed a gift tax of 60 million won, considering that the father had donated 300 million won to Mr. A, citing the lack of a contract.
The ACRC, which received the complaint from Mr. A, decided that it was reasonable to view it as a loan for money consumption rather than a gift, as it was confirmed that Mr.
The tax office accepted the recommendation of the ACRC and canceled Mr. A's gift tax.
Ahn Jun-ho, head of the grievance handling bureau, said, "The illegal increase travel commission should be strictly taxed, but there are cases of taxation due to differences in judgment on the facts. said.
(Photo = Anti-Corruption and Civil Rights Commission Facebook capture, Yonhap News)