Samsung Securities said on the 8th that it will implement a service to assist in filing capital gains tax on overseas stock transfers for the year 2024.
According to Samsung Securities, this service is designed to help clients whose capital gains from overseas stock transactions through Samsung Securities exceeded 2.5 million won last year. Clients can apply for the capital gains tax filing service until the 11th.
Since capital gains tax on overseas stocks is not subject to withholding, investors must file directly each May. A tax rate of 22% (including local government tax) is applied to the amount after deducting the basic exemption of 2.5 million won from the capital gains. However, it is explained that handling the entire process, including exchange rate application and calculation of trading profits, is not easy.
This filing assistance service will be provided through Samsung Securities' partnered tax accounting firms, and customers wishing to use the capital gains tax filing service for overseas stocks can apply through Samsung Securities' mPOP, website, or branch visits. Anyone eligible for application can apply for free, and if they have transaction history with other securities firms, they can submit that information as well for combined reporting.
A representative from Samsung Securities noted, “As experience with overseas stock investments increases, customer demand related to tax filing is also growing,” and added, “We are providing this service to reduce the tax filing burden on customers and simplify the process.”
Meanwhile, Samsung Securities announced that it will hold an event until the end of April, providing up to $100 to new customers or those who have not had transaction experience with overseas stocks at Samsung Securities from January 1, 2020, to March 31 of this year.