Hi Investment & Securities, Free Tax Filing Service for Comprehensive Financial Taxation

[Asia Economy Reporter Park Jihwan] Hi Investment & Securities announced on the 20th that it will provide a free tax filing agency service for comprehensive financial income taxation and capital gains tax on overseas stocks and derivatives as part of its comprehensive asset management service for customers.

This tax filing agency service targets Hi Investment & Securities customers whose financial income for the year 2020 exceeds 20 million KRW or who have incurred capital gains tax on overseas stocks and derivatives. Customers wishing to use the service can check their eligibility and apply through Hi Investment & Securities branches by the 30th.

Customers whose financial income attributable to a specific year exceeds 20 million KRW must report and pay income tax by combining it with other income such as business income. Financial income includes all interest income such as bonds and domestic and foreign deposit interest, savings insurance gains, and dividend income such as dividends from domestic and foreign corporations, funds, and ELS profits.

All customers who have incurred capital gains from overseas stocks and derivatives must report and pay capital gains tax after a basic deduction of 2.5 million KRW. If the capital gains are less than 2.5 million KRW, there is no tax to pay, but there is an obligation to report. In the case of overseas stocks, if there are taxable domestic stock capital gains such as major shareholder transfers of listed stocks, over-the-counter transfers, or unlisted stock transfers, the basic deduction can be applied after offsetting gains and losses with domestic stocks.

Hi Investment & Securities conducts this tax filing agency service through Dasol WM Center, a tax corporation it has partnered with since 2013. Through Dasol WM Center, it also provides various tax-related services including tax consultations for comprehensive asset management services for customers.

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