Article 96 (Transfer Price)

The transfer price of an asset under each subparagraph of Article 94(1) shall be based on the actual transaction price between the transferor and transferee at the time of transfer of such asset. <Amended on Dec. 20, 2016>

When applying paragraph (1), if a resident transfers an asset under each subparagraph of Article 94(1) and falls under any of the following subparagraphs, the price shall be deemed to be the actual transaction price at the time of transfer of such asset. <Amended on Jan. 1, 2012, Dec. 20, 2016, Dec. 31, 2018, Dec. 23, 2025> 1. In the case of a transfer to a corporation corresponding to a special relationship person as defined in Article 2(12) of the Corporate Tax Act (including a foreign corporation; hereinafter referred to as "special relationship corporation" in this paragraph), if there is an amount treated as the resident's bonus or dividend pursuant to Article 67 of the same Act, the fair market price according to Article 52 of the same Act. 2. In the case of a transfer of an asset to a person other than a special relationship corporation at a price higher than the fair market price, if there is an amount under any of the following items, the amount remaining after subtracting the amount under the relevant item from the transfer price. a. An amount that is treated as the resident's gifted property value pursuant to Article 35 of the Inheritance and Gift Tax Act. b. An amount treated as the resident's dividend, etc., pursuant to Article 67 of the Corporate Tax Act, as prescribed by Presidential Decree.