What taxes do I have to pay when transferring unlisted stocks?

When transferring unlisted stocks, various tax declarations are required.

Shall we find out what each party's obligations are? 💁🏻‍♀️

💡 What does the transferor need to do?

Create a stock transfer agreement with the transferee.
Declare and pay transfer income tax (including local tax) and securities transaction tax within 2 months from the end of the half-year in which the transfer occurred.

① Transfer Income Tax (including local tax)

Classification			Tax Rate
Major shareholder*	Outside small and medium-sized enterprises	Less than 1 year ownership	30%
		More than 1 year ownership	Taxable amount exceeding KRW 300 million : 25% (Tiered tax deduction KRW 15 million) Taxable amount not exceeding KRW 300 million : 20%
	Small and medium-sized enterprises
Small shareholder other than major shareholder	Outside small and medium-sized enterprises		20%
	Small and medium-sized enterprises		10%

*Major shareholder: If the shareholding ratio is 4% or more or the stock market capitalization is KRW 1 billion or more.

② Securities Transaction Tax: Transfer amount × 0.43%

💡 What does the corporation need to do?

Amend the shareholder register.
Submit a statement of changes in stocks and other items when filing corporate tax returns.