The transfer tax exemption for houses of 1.2 billion won or less will come into effect from tomorrow (8th).
The government held a cabinet meeting today (the 7th) and decided to promulgate some amendments to the Income Tax Act and the Value Added Tax Act.
The government plans to take effect immediately after promulgating the amendment tomorrow (8th).
Accordingly, the amended regulations that raise the non-taxable standard for capital gains tax per household from 900 million won to 1.2 billion won will also apply from the house transferred after tomorrow (8th).
The amended Income Tax Act provides tax-free benefits when the actual transaction transfer price is 1.2 billion won or less when a single householder sells a house.
YTN Namgi Kwon (kwonnk09@ytn.co.kr)
[저작권자(c) YTN & YTN plus 무단전재 및 재배포 금지]
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