Abstract

Since the Registration and License Tax for Corporate Registration does not explicitly state the "Local Tax Act", there is a problem with the legislation lack. Current the tax rates of the Registration and License Tax for Corporate Registration is ”4/1000 of the paid amount of stocks, the amount of investment, or the value of investment other than cash (112,500Won when an amount of tax is less than 112,500Won)“. However, thhe "heavy taxation tax rates" are also being used for the policy registration in metropolitan cities such as Seoul. In this case, the ”heavy taxation tax rates“ is ”300/100 of the relevant tax rate(if the tax amount calculated by applying the tax rate specified is less than 112,500 won, it shall be deemed 112,500 won)“. Here, the issue is that the new tax rates(112,500Won)was defined, but the corresponding tax bases were not newly defined as “per case”. Accordingly, the Regisration and License Tax for Corporate Registration, which the government has imposed so far, is problematic. This problem can be a social problem later on, because the "paid amount of stocks" will occur to small businessmen under 28,125,000won. For this improvements, First, “112,500Won when an amount of tax is less than 112,500Won” should be changed to “112,500Won per case when an amount of tax is less than 112,500Won”. "Per case" should be added. Secondly, the rule '112,500Won when an amount of tax is less than 112,500Won' can be regarded as the 'minimum amount of tax'. These regulations are laid out in the "tax rates article", which need to be legislated later with separate articles. This paper is the first academic study on the legislative lack of "registration and License Tax for Corporate Registration". In this respect, this paper contributes greatly to academic discipline.

Keywords

• Registration and License Tax
• Corporate Registration
• Tax
• Taxation
• Tax Law

Related Articles

• A Examination of the Relation between ESG and Tax Avoidance

  Kang, Jeong Yeon , KIM YOUNG CHUL

  27(1) 67-101

  Abstract Full Text for PDF

• Tax Specialist Auditors and Tax Avoidance: Small and Medium－Sized Accounting Firms

  Hyun Ah Kim

  26(1) 9-36

  Abstract Full Text for PDF

• Voluntary External Audit and Tax Compliance

  Jin Joo Moon , Ki Yong Hong

  25(2) 157-173

  Abstract Full Text for PDF

• The Effect of Managerial Ability on Tax Risk

  Seung Jae Lee

  23(2) 61-96

  Abstract Full Text for PDF

• Tax Accounting Effect by the Adoption of K－IFRS 1116 Lease

  Shawn, Hyuk , Jung, Jae－Gyung

  22(2) 39-63

  Abstract Full Text for PDF