Article 46 (Special Rules for Calculation of Income Amount from Bonds, etc.)

Where a resident receives interest or discount amounts (hereinafter referred to as "interest, etc." in this Article, Article 133-2, and Article 156-3) from the issuing corporation of bonds or securities falling under subparagraphs 1, 2, 5, and 6 of Article 16(1), and securities that can be transferred to another person as prescribed by Presidential Decree (hereinafter referred to as "bonds, etc." in this Article, Article 133-2, and Article 156-3) (including cases where convertible bonds are converted into shares, exchangeable bonds are exchanged for shares, or warrants are exercised (only when the payment for newly issued shares is made with such warrants) and where bonds, etc. falling under subparagraphs 3, 3-2, and 3-3 of Article 4(7) of the 「Capital Markets and Financial Investment Business Act」 are converted or redeemed into shares. The same shall apply hereinafter) or sells such bonds, etc. (including cases where ownership of bonds, etc. or the right to receive interest income changes due to donation, payment, or investment, and cases where selling is entrusted, brokered, or arranged, but excluding transactions such as repurchase agreements and the like as prescribed by Presidential Decree. The same shall apply hereinafter in Article 133-2), the income amount shall be calculated by deeming the amount equivalent to interest, etc. attributable to the resident for each holding period as interest income of the resident under Article 16. <Amended by Act No. 11553, Dec. 27, 2010; Act No. 11610, Jan. 1, 2012; Act No. 17773, Dec. 29, 2020; Act No. 19159, Dec. 31, 2024>

The method of calculating the amount equivalent to interest, etc. under paragraphs (1) and (2), and other necessary matters shall be prescribed by Presidential Decree.