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[세종=이데일리 한광범 기자] If the equity ratio changes by more than 1% due to transactions between the largest shareholders in listed stocks, the market price based on the transfer tax will be increased by 20%. Even if the largest shareholder changes, a premium is applied.
On the 9th, the Ministry of Strategy and Finance announced the legislation of the revised tax law enforcement regulations. Previously, the government mandated a 20% premium to be applied only to cases involving the transfer of management rights through the revision of the tax law enforcement decree, and detailed details were entrusted to the enforcement regulations.
The enforcement rules stipulate that △the change of the largest shareholder according to the inheritance tax and gift tax law, and △the case where the ownership ratio changes by 1% or more due to transactions between the largest shareholders according to the Inheritance Tax and Gift Tax Act.
It also clarified the range of mass trading that calculates the closing price on the trading day as the market price. The Enforcement Decree requires the closing price of the trading day to be calculated as the market price when trading listed stocks in a manner prescribed by the enforcement regulations such as mass trading.
The enforcement rules clarified that the requirements of a certain quantity or more than a certain amount are met according to the Capital Market and Financial Investment Business Act, such as intraday and after-hours competitive bulk trade, mass trade, and basket trade.
As taxation on financial investment income begins in earnest from 2023, only minority shareholders will be subject to the more favorable of the actual acquisition price and the closing price at the end of 2022.
The government believes that this will prevent market distortions such as disposing of stocks in advance for minority shareholders to avoid tax.
The Ministry of Information and Communication specified the criteria for’major shareholders’ that are excluded from minority shareholders through revision of the enforcement regulations. If the stake by stock is 1% or more for KOSPI, 2% or more for KOSDAQ, and 4% or more for KONEX and unlisted, and the holding amount is 1 billion or more, it is classified as a major shareholder.