My Louserman wrote an understandable encyclopedia season1 ➨ An unregistered monopoly Definition


An unregistered monopoly Definition


 A transaction in which assets (mostly real estate) are sold on a balance payment date after being paid only for speculative purposes. In the same language, the term " repurchase monopoly " or the legal term " registration by medium omitted ". Regardless of the reason, however, it is an absolute crime in South Korea to resell or under-rated goods.
For example, if A transfers his or her own property to B without registering it, and B passes it to C, the country can not register it or register it in the name of C, and the country can be classified as B. The National Tax Service and local governments will not be allowed to impose not only the registration tax but also the transfer income tax on B who made profits from real estate speculation.
For this reason, in a country where real estate speculation is extremely severe, real estate owners are subject to the Act on Registration of real estate owners (i.e., the Real Estate Act), which was enacted in 1995.
The names of those who do this are more famous than the name of the underwriting, and real estate agents who travel around the apartment building site to engage in the sale of new apartments or engage in resale by brokers.➨

To impose a penalty.

If a government or public organization finds out that the nation has sold an unregistered monopoly, it could face not only administrative actions such as imposing fines, but also a fine or a prison sentence depending on the extent.

Imprisonment of not more than three years or fines of not more than 100 million won (Special Measures for Real Estate Registration Act)

A sentence of not more than five years in prison or a fine not exceeding 200 million won (Act on the Registration Act on Real Estate Power)

➨Fines and enforcement charges (Act on Registration in Real Estate Name)

➨Fines : Real Estate Assessment × 30 %

➨Implementation Conformance : Real Estate Assessment × 10 %

➨Transfer income tax (income tax law)

➨Excludes all non-taxable, deductible, and benefits for transfer income

➨Transfer income tax = Transfer gain × 77 % [1]

➨Punishment by law

➨Punishment for the practice of forgery and forgery of a criminal document according      to the Criminal Law.

     ⧬Capital gains tax 70 % + local income tax 70 % × 10 %

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