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Laws of the Republic of Korea |
1
EDUCATION TAX ACT
Wholly Amended by Act No. 4279, Dec. 31, 1990
Amended by Act No. 4669, Dec. 31, 1993
Act No. 4796, Dec. 22, 1994
Act No. 4809, Dec. 22, 1994
Act No. 5037, Dec. 29, 1995
Act No. 5581, Dec. 28, 1998
Act No. 5584, Dec. 28, 1998
Act No. 6032, Dec. 3, 1999
Act No. 6050, Dec. 28, 1999
Act No. 6296, Dec. 29, 2000
Act No. 6521, Dec. 15, 2001
Act No. 7011, Dec. 30, 2003
Act No. 7578, Jul. 13, 2005
Act No. 8137, Dec. 30, 2006
Act No. 8829, Dec. 31, 2007
Article 1 (Purpose)
Article 2 (Definitions)
Article 3 (Taxpayers)
Article 4 (Non-Taxation)
Article 5 (Tax Base and Tax Rate)
Article 6 (Tax Payment Place)
Article 7 (Attributable Period of Revenue Amount of Banking and Insurance Businessmen) Article 8 (Taxable Period)
Article 9 (Report and Payment)
Article 10 (Imposition and Collection)
Article 11 Deleted.
Article 13 (Non-Inclusion in Necessary Expenses and Loss)
Article 1 (Purpose)
The purpose of this Act is to secure the source of revenue required for expanding
the education budget in order to improve the quality
of education.
Article 2 (Definitions)
The definitions of terms as used in this Act shall be the same as are defined
in the Framework Act on National Taxes, the Individual
Consumption Tax
Act, the Traffic, Energy and Environment Tax Act, and the Liquor Tax
EDUCATION TAX ACT
2
Act, except for those terms as defined in this Act.
Article 3 (Taxpayers)
Those who are listed in the following subparagraphs shall be liable to
pay education tax in accordance with the provisions of this
Act:
1. Any person listed in the attached Table among those who are engaged
in the finance and insurance business in Korea (hereinafter
referred
to as "finance and insurance businessmen");
2. Taxpayers of individual consumption tax (excluding the tax on goods
of Article 1 (2) 4 (a), (b), (e) and (g) of the Individual
Consumption
Tax Act; hereinafter the same shall apply) under the provisions of the
Individual Consumption Tax Act;
3. Taxpayers of the traffic, energy and environment tax under the Traffic,
Energy and Environment Tax Act;
4. Taxpayers of liquor tax (excluding the tax on high strength alcohol
for liquor making, unrefined rice wine and medicinal wine;
hereinafter
the same shall apply) under the provisions of the Liquor Tax Act; and
5. through 11. Deleted.
The revenue accruing from trust assets in public purpose trust operated
by finance and insurance businessmen shall not be subject
to the imposition
of education tax.
Article 5 (Tax Base and Tax Rate)
(1) The amount of education tax shall be calculated by multiplying the
tax bas listed in each of the following subparagraphs by
the pertinent
tax rate: Provided, That in case of subparagraph 1, the education tax
amount for the revenue accruing in relation
to currency sale transactions
with redemption options (hereinafter referred to as "swap transactions") with
the Bank of Korea shall
not exceed the balance amount of the revenue accruing
in relation to the swap transactions after deducting all costs and expenses
therefor as prescribed by the Presidential Decree:
EDUCATION TAX ACT
3
Item
Classifica
tion
Tax Base Tax Rate
1
Revenue amount of the finance and
insurance businessmen
5/1,000
2
Individual consumption tax amount
payable in accordance with the provisions
of the Individual Consumption Tax Act
30/100 (15/100 for goods
under Article 1 (2) 4 (c), (d),
(f) and (h) of the Individual
Consumption Tax Act)
3
Traffic, energy and environment tax
amount payable in accordance with the
provisions of the Traffic, Energy and
Environment Tax Act
15/100
4
Liquor tax amount payable in accordance
with the provisions of the Liquor Tax Act
10/100
(30/100 for the liquor for
which the liquor tax rate is
70/100 or over)
5. through 11. Deleted.
(2) The tax rate as listed in subparagraphs of paragraph (1) above may
be adjusted within the scope of 30/100 of such tax rate pursuant
to the
Presidential Decrees as it is deemed necessary to secure educational budget
resources or procure the pertinent goods.
(3) The revenue amount becoming the tax base of paragraph (1) 1 above
shall mean interest, dividend, commission, guarantee fee,
securities sales
profit, redemption profit and insurance premium (deducting the amount
reserved as liability reserve and contingency
reserve and the amounts of
reinsurance premium) and other amount as prescribed by the Presidential
Decree, and the calculation
thereof shall be prescribed by the Presidential
Decree.
(4) The revenue amount becoming the tax base of paragraph (1) 1 shall
be based on the total revenue amount for the respective taxable
period
under Article 8.
(5) Deleted.
EDUCATION TAX ACT
4
Article 6 (Tax Payment Place)
The tax payment place of education tax imposed on the revenue amount
of the banking and insurance businessmen shall be the place
where their
head or main offices (or the domestic main business establishment when
they have their head office or main offices
abroad) are located: Provided,
That in the case where the banking and insurance businessmen have two
or more establishments, the
tax payment place may be the location of each
business establishment as prescribed by the Presidential Decree.
Article 7 (Attributable Period of Revenue Amount of Banking and
Insurance Businessmen)
With respect to the attributable period of the revenue amount of the
banking and insurance businessmen, Articles 40 and 43 of the
Corporate Tax
Act shall apply mutatis mutandis.
Article 8 (Taxable Period)
(1) The taxable period of education tax imposed on the revenue amount
of the banking and insurance businessmen shall be as follows:
1. The first period: January 1 to March 31;
2. The second period: April 1 to June 30;
3. The third period: July 1 to September 30; and
4. The fourth period: October 1 to December 31.
(2) The initial taxable period with respect to the person who commences
to become
a banking and insurance businessman shall be the period from
the starting date of business to the closing date of the taxable period
in
which the said date falls.
(3) The taxable period, in the case where the banking and insurance
businessman closes down the business operation, shall be the
period from
the starting date of the taxable period in which the date of closing down falls
to the date of closing down the business
operation.
Article 9 (Report and Payment)
(1) The banking and insurance businessman shall file a report stating
the tax base and tax amount, etc. of the respective taxable
period with
the director of the concerned tax office within the period as stipulated
in the following subparagraphs, and at the
same time shall pay the tax
amount thereof to him:
1. The first period: by May 31;
2. The second period: by August 31;
EDUCATION TAX ACT
5
3. The third period: by November 30; and
4. The fourth period: by the end of February of the next year.
(2) When the taxpayer under subparagraphs 2 through 4 of Article 3
reports
and pays the relevant tax in accordance with other relevant tax statutes,
he shall report and pay the education tax thereof.
(3) Any necessary matters with respect to the report and payment under
paragraphs (1) and (2) shall be prescribed by the Presidential
Decrees.
Article 10 (Imposition and Collection)
(1) If the person liable to report on the education tax in accordance with
Article 9 (1) fails to report, or makes mistakes or omissions
in the contents
of report, the director of the tax office shall determine or correct the tax
base and tax amount thereof, and if
any mistakes or omissions are found in
the tax base and tax amount that determined or corrected, he shall correct
or re-correct
them.
(2) If the tax amount as reported in accordance with Article 9 (1) is not
paid, or not paid in full, and the head of the relevant
tax office has determined,
corrected or re-corrected the tax amount not yet paid in accordance with
paragraph (1), he shall collect
the tax amount to be additionally paid without
any delay.
(3) With respect to the education tax imposed on the amount of individual
consumption tax, traffic, energy and environment tax or
liquor tax, the
head of the relevant tax office shall impose and collect such education tax
pursuant to the procedure of imposition
and collection of individual
consumption tax, traffic, energy and environment tax or liquor tax,
respectively.
(4) and (5) Deleted.
(1) With respect to a refund of any amount which has been mispaid or
overpaid as the education tax on the revenue amount of the
finance and insurance
businessmen, Articles 51 through 54 of the Framework Act on National
Taxes shall apply mutatis mutandis.
6
of individual consumption tax, traffic, energy and environment tax or liquor
tax which is refundable as a result of a refund of
individual consumption tax
amount, traffic, energy and environment tax amount or liquor tax amount
in accordance with the provisions
of the Individual Consumption Tax Act,
the Traffic, Energy and Environment Tax Act or the Liquor Tax Act, Articles
51 through 54
of the Framework Act on National Taxes, Articles 20 and
20-2 of the Individual Consumption Tax Act, Article 17 of the Traffic, Energy
and Environment Tax Act or Articles 34 and 35 of the Liquor Tax Act shall
apply mutatis mutandis.
(3) Deleted.
Article 13 (Non-Inclusion in Necessary Expenses and Loss)
The amount of the education tax imposed on any tax amount, as the
education
tax base, which shall not be included in the necessary expenses
or loss under the Income Tax Act or the Corporate Tax Act, shall
not be included in the necessary expenses or loss in calculating the
income amount under the provisions of the Income Tax Act or
the Corporate
Tax Act.
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 1991.
Article 2 (Application to Education Tax on Tax Base of Special Consumption
Tax Amount)
With respect to the education tax imposed on the tax base of special
consumption tax amount, this Act shall apply to the sales,
discharge,
entrance, supply of entertainment, food and drink, or report of importation
taking place after the enforcement of this
Act.
Article 3 (Application to Education Tax on Tax Base of Liquor Tax Amount)
Subparagraph 3 of Article 3 and Article 5 (1) 3 above
shall apply to delivery
from warehouse, take-over or report of importation taking place after
the enforcement of this Act.
Article 4 (Application to Education Tax on Tax Base of Registration Tax)
With respect to the education tax imposed on the tax base
of registration
tax amount, this Act shall apply to registration or record taking place
after the enforcement of this Act.
Article 5 (Application to Education Tax on Tax Base of Pari-Mutuel Tax
EDUCATION TAX ACT
7
Amount)
With respect to the education tax imposed on the tax base of pari-mutuel
tax amount, this Act shall apply to the ticket sold after
the enforcement of
this Act.
Article 6 (Application to Education Tax on Tax Base of Per Capita
Resident Tax Amount, etc.)
With respect to the education tax imposed on the tax base of per capita
resident tax amount, property tax amount, aggregate land
tax amount
or automobile tax amount, this Act shall apply to each such tax imposed
after the enforcement of this Act.
Article 7 (General Transitional Measures)
With respect to the education tax which has been imposed, or should have
been imposed in accordance with the former provisions at
the time of
enforcement of the Act, the former provisions shall apply: Provided, That
the amount equivalent to the education tax
to be imposed in accordance
with the former provisions on the separate taxable interest income and
the separate taxable dividend
income which are paid after the enforcement
of this Act but have occurred on or before December 31, 1990 shall be collected
as
income tax in accordance with the Income Tax Act.
Article 8 (Transitional Measures as to Interest of Land Development
Bond)
With respect to the interest of land development bond issued on, or before
December 31, 1986 among the profits of the banking and
insurance
businessmen, the education tax shall not be imposed.
ADDENDA
(1) (Enforcement Date) This Act shall enter into force on January 1, 1994:
Provided, That the amended provisions of subparagraph
3 of Article 3 shall
enter into force on January 1, 1995.
(2) (Application to Education Tax on Tax Base of Liquor Tax Amount with
Regard to Group of "Soju") With respect to the education
tax on the tax
base of liquor tax amount with regard to the group of "soju", this Act shall
apply to the delivery from the distillery
or the report of importation after
the enforcement of the amended provisions of subparagraph 3 of Article 3.
(3) (Application as
to Tax Payment Place of Banking and Insurance Businessmen)
The amended provisions of Article 6 shall apply to the report and payment
of tax amount on the revenue accruing after the enforcement of this Act.
EDUCATION TAX ACT
8
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 1995.
Articles 2 and 3 Omitted.
Article 4 (Application Examples pursuant to Amendment to Education
Tax Act)
The amended provisions of Article 5 (4) of the Education Tax Act in
accordance with the provisions of Article 3 (7) of this Addenda
shall apply
to the tax portion imposed after the enforcement of this Act.
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 1995. (Proviso Omitted.)
Articles 2 through 9 Omitted.
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on July 1, 1996.
Article 2 (Time-Limit of Application)
The amendments to Article 5 (1) 3 shall remain in force until December
31, 2009.
The proviso of Article 5 (1) 2 above shall apply to the sales, discharge
or report of importation taking place for the first time
after the enforcement
of this Act.
Article 4 (Application to Education Tax on Tax Base of Traffic Tax Amount)
With respect to the education tax on the tax base of
traffic tax amount,
this Act shall apply to the discharge or report of importation taking place
for the first time after the enforcement
of this Act.
Article 5 (Application to Education Tax on Tax Base of Tobacco Consumption
Tax)
With respect to the education tax on the tax base of tobacco consumption
tax amount, this Act shall apply to the discharge or importation
taking place
for the first time after the enforcement of this Act.
EDUCATION TAX ACT
9
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 1999. (Proviso Omitted.)
Articles 2 through 15 Omitted.
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 1999. (Proviso Omitted.)
Articles 2 through 19 Omitted.
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso
Omitted.)
Articles 2 through 9 Omitted.
ADDENDA
(1) (Enforcement Date) This Act shall enter into force on January 1, 2000.
(2) (Application Example) The amended provisions of Article
5 (1) 4 of this
Act shall apply to the portion taken out of a manufactory or report of importation
after the enforcement of this
Act.
(3) (Transitional Measure) Concerning education tax imposed or to be imposed
under the previous provisions at the time of the enforcement
of this Act
shall be dealt with according to the previous example.
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2001: Provided, That the
amendments to subparagraph 2 of Article 3 and Article 5 (1)
2 (proviso) shall
enter into force on July 1, 2001.
Article 2 (Time-Limit of Application)
(1) The amendments to Article 5 (1) 2 (proviso) shall remain in force until December
31, 2010.
EDUCATION TAX ACT
10
Article 3 (Application Example to Heavy Oil, etc.)
With respect to the goods falling under the amendments to subparagraph
2 of
Article 3 and Article 5 (1) 2 (proviso), it shall be applicable to the
portion first brought out from the manufacturing place or
first reported
on importation after July 1, 2001.
Article 4 (General Transitional Measures)
With respect to the education tax levied or to be levied under the previous
provisions at the enforcement of this Act, the previous
provisions shall
apply.
Article 5 (Transitional Measures on Education Tax on Tax Base of
Registration Tax Amount)
With respect to the education tax on the tax base of registration tax
amount under previous subparagraph 5 of Article 3 and Article
5 (1) 5
at the enforcement of this Act, the previous provisions shall apply only
to the portion registrated or registered before
December 31, 2000.
Article 6 (Transitional Measures on Education Tax on Tax Base of Racing
and Pari-Mutuel Tax Amount)
With respect to the education tax on the tax base of racing and pari-mutuel
tax amount under previous subparagraph 6 of Article
3 and Article 5 (1)
6 at the enforcement of this Act, the previous provisions shall apply only
to the portion of winner's suffrage
or horse-riding suffrage sold before
December 31, 2000.
Article 7 (Transitional Measures on Education Tax on Tax Base of Per
Capita Resident Tax, etc.)
With respect to the education tax on the tax base of per capita resident
tax amount, property tax amount, aggregate land tax amount,
and
automobile tax amount under previous subparagraphs 7 through 10 of Article
3 and Article 5 (1) 7 through 10 at the enforcement
of this Act, the previous
provisions shall apply only to the portion whereon the relevant tax amounts
are levied before December
31, 2000.
Article 8 (Transitional Measures on Education Tax on Tax Base of Tobacco
Consumption Tax Amount)
With respect to the education tax on the tax base of tobacco consumption
tax amount under previous subparagraph 11 of Article 3
and Article 5
(1) 11 at the enforcement of this Act, the previous provisions shall apply
only to the portion of manufactured tobacco
first brought out from the
manufacturing place or the bonded area or first brought inland before
EDUCATION TAX ACT
11
December 31, 2000.
Article 9 (Transitional Measures on Banking and Insurance Business
Operators)
With respect to the revenue amount of the Korea Asset Management
Corporation (referring to the Assets Management Corporation on
the
provisions of previous annexed Table 2) at the enforcement of this Act,
the education tax shall be levied only on the portion
reverting to before
December 31, 2000.
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso
Omitted.)
Articles 2 through 6 Omitted.
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2004.
Articles 2 through 5 Omitted.
ADDENDUM
This Act shall enter into force on the date of its promulgation.
ADDENDA
(1) (Enforcement Date) This Act shall enter into force on January 1, 2007.
(2) (Transitional Measures concerning Additional Tax)
The previous
provisions shall govern the additional tax on the education tax to have levied
or to be levied under the provisions
of the previous Article 11 before the
enforcement of this Act.
ADDENDA
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 2008.
Articles 2 through 12 Omitted.
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