Article 179-4 (Application for Non-taxation of Interest and Capital Gains on Government Bonds, etc. for Non-residents)

An application for non-taxation for a non-resident (including a foreign investment institution deemed to be the beneficial owner under Article 119-3 (3) of the Act; hereinafter the same applies in this Article) under Article 119-3 (4) of the Act shall be processed according to the procedures specified in the following subparagraphs. In such cases, if there are no changes to the initial application details when applying for non-taxation on other interest or capital gains arising from government bonds, etc. after having received non-taxation based on such application, the procedures specified in the following subparagraphs need not be re-followed. <Amended on 2025.2.28, 2025.12.30> 1. Where income under the provisions of Article 119-3 (1) of the Act arising from government bonds, etc. acquired, held, or transferred without going through qualified foreign financial institutions, etc. is paid to a non-resident: Procedures in the order of the following items. a. The non-resident shall submit a non-resident non-taxation application form (hereinafter referred to as "non-resident non-taxation application form" in this Article) determined by the Minister of Economy and Finance to the income payer. b. The income payer shall submit the non-resident non-taxation application form received under item a to the head of the competent tax office by the 9th of the month following the month in which the income was paid. 2. Where income under the provisions of Article 119-3 (1) of the Act arising from government bonds, etc. acquired, held, or transferred through qualified foreign financial institutions, etc. (including cases where a custodian foreign financial institution, etc. is involved) is paid to a non-resident: Procedures in the order of the following items. a. Qualified foreign financial institutions, etc. shall complete a qualified foreign financial institution, etc. non-taxation application form (hereinafter referred to as "qualified foreign financial institution, etc. non-taxation application form" in this Article) determined by the Minister of Economy and Finance and submit it to the income payer. b. The income payer shall submit the qualified foreign financial institution, etc. non-taxation application form received under item a to the head of the competent tax office by the 9th of the month following the month in which the income was paid.

Deleted <2025.2.28>

Where a financial institution, etc. underwrites, trades, brokers, or acts as an agent for government bonds, etc. of a non-resident, paragraphs (1) and (4) shall apply by deeming that there is a relationship of agency or entrustment between the financial institution, etc. and the non-resident. <Amended on 2025.2.28>

In cases where paragraph (5) or (6) does not apply, and the income payer has no address, residence, head office, main office, place of substantive management of business, or domestic business office (including a domestic business office under Article 94 of the 「Corporate Tax Act」) in Korea, a non-resident or qualified foreign financial institutions, etc. may directly submit the application forms in accordance with the following subparagraphs to the head of the competent tax office, notwithstanding paragraph (1). <Amended on 2025.2.28> 1. Deleted <2025.2.28> 2. For a non-resident: The non-resident non-taxation application form that should have been submitted to the income payer under Article 179-4 (1) 1. a. 3. For qualified foreign financial institutions, etc.: The qualified foreign financial institution, etc. non-taxation application form that should have been submitted to the income payer under Article 179-4 (1) 2. a.