Article 96 (Transfer Value)

The transfer value of assets under the respective subparagraphs of Article 94 (1) shall be based on the actual transaction value between the transferor and the transferee at the time of transfer of such assets. <Amended on Dec. 20, 2016>

When applying paragraph (1), if a resident transfers assets under the respective subparagraphs of Article 94 (1) and falls under any of the following subparagraphs, the value shall be deemed the actual transaction value at the time of transfer of such assets. <Amended on Jan. 1, 2012, Dec. 20, 2016, Dec. 31, 2018, Dec. 23, 2025> 1. In the case of a transfer to a corporation that is a related party as defined in Article 2 (12) of the Corporate Tax Act (including foreign corporations, hereinafter referred to as "related corporation" in this paragraph), and if there is an amount disposed of as remuneration or dividend for the resident pursuant to Article 67 of the same Act, the fair market value as defined in Article 52 of the same Act. 2. In the case of a transfer of assets to a person other than a related corporation at a price higher than the fair market value, if there is an amount falling under any of the following items, the amount remaining after deducting the amount in such item from the transfer value: a. The amount deemed as the value of gifted property of the resident pursuant to Article 35 of the Inheritance and Gift Tax Act. b. The amount disposed of as dividend, etc., for the resident pursuant to Article 67 of the Corporate Tax Act, as prescribed by Presidential Decree.