The National Taxation Bureau of Northern Area (NTBNA), Ministry of Finance stated that stocks auctioned by the court shall be subjected to securities transaction tax (STT). STT shall be collected by the auction winner on the date of transaction at the required rate (3‰) and paid to the national treasury on the following day along with a filled payment slip.
The Bureau would like to issue this reminder that should the auction winner fail to pay the securities transaction tax by law, or if the securities transaction tax was not collected by the collecting agent, as long as it is neither a case brought about by an informant, nor a case under investigation by the tax collection authorities or the Ministry of Finance, the taxpayer can voluntarily file a supplementary tax declaration with the tax collection authorities, and make supplementary payment covering the tax amount which he/she/it has failed to declare and pay the daily interest. The punishment may be remitted based on Article 48-1 of Tax Collection Act. If there are any questions, please call the toll-free number 0800-000321 or directly contact the regional national taxation bureaus for further information and consulting services.