Explanatory meeting on the imposition of inheritance and gift taxes

Explanatory meeting on the imposition of inheritance and gift taxes related to transactions to support related parties especially within conglomerates

FKI held an explanatory meeting on the imposition of inheritance and gift taxes related to transactions to support related parties especially within conglomerates on April 18 to enhance the enterprises' understanding on the matter, which will be implemented for the first time.

The event was started with the explanation on enterprises' proper countermeasure against the imposition of inheritance and gift taxes related to transactions to support related parties especially within conglomerates and procedures to observe relevant laws and regulations, followed by understanding of relevant laws and regulations, its impact on enterprises, contents and indications of the revised tax law (Article 45-3 of the inheritance and gift tax law), and Q&A on major matters.

Pointing out that internal transactions occurred in the regular business activity process, not in expedient inheritance or infringement of alley commercial districts, should be excluded from the object for the taxation, FKI plans to recommend that the government improves the system after grasping the business circles' difficulties.