Kookmin Bank Launches 'So' Tax-Saving Event Starting Today with New Year ISA

Expansion of ISA Eligibility Starting This Year Due to Amendments in the Restriction of Special Taxation Act

[Asia Economy Reporter Park Sun-mi] KB Kookmin Bank announced on the 13th that it will hold a "Tax-saving 'So' Event" with the 2021 Year of the Ox ISA to help more customers enjoy tax-saving and asset management benefits by targeting customers who subscribe to the Individual Savings Account (ISA).

Recently, the Restriction of Special Taxation Act was amended, expanding ISA eligibility starting this year. As a result, the tax support requirements have been significantly relaxed compared to previous years. Previously, only residents with income could subscribe to ISA products, but from this year, residents aged 19 or older can subscribe regardless of income. Additionally, the mandatory subscription period has been reduced from 5 years to 3 years, and the annual contribution limit is 20 million KRW, with up to 100 million KRW of unpaid amounts from the previous year allowed to be carried over for 5 years, expanding tax benefits.

ISA products allow integrated management of various financial products within a single account. For the general type, if held for more than 3 years, tax-saving benefits apply with up to 2 million KRW of earnings being tax-exempt. Earnings exceeding 2 million KRW are subject to separate taxation at 9.9% (including local income tax), still providing tax-saving benefits.

In line with this, KB Kookmin Bank is conducting an event until the end of March where the first 10,000 customers who newly subscribe to an ISA with at least 100,000 KRW will receive an ice cream mobile coupon on a first-come, first-served basis. Additionally, among customers who newly subscribe with at least 1 million KRW and maintain their account until the end of April, a Lucky 7 event will be held by lottery to provide ▲ 1 person with an LG Tromm Wash Tower ▲ 2 people with a MacBook Pro 13-inch 512G ▲ 4 people with a Nespresso Vertuo Plus. This event automatically enters customers who subscribe via branch visits, internet banking, or KB Star Banking.

A KB Kookmin Bank official stated, "In this low-interest era, many customers can enjoy tax-saving and asset management service benefits through ISA products," and added, "We will continue to expand the product lineup so that customers can choose from a variety of ISA products."

This content was produced with the assistance of AI translation services.