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KOREAN SINGLE-HOME OWNERS REQUIRED TO RESIDE 1 YR FOR EXEMPTION.

Publication: AsiaPulse News
Publication Date: 04-SEP-02 		Format: Online - approximately 503 words
Delivery: Immediate Online Access

Article Excerpt
SEOUL, Sept 4 Asia Pulse - The government Wednesday decided to require single-home owners in Seoul and six satellite cities to possess the house for a minimum three years and actually reside in the house for at least one year to qualify for tax exemption on gains from sale of the house.

Current law does not have the one-year stay requirement for the real estate transaction tax exemption.

At a meeting of vice ministers...

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