cancellation fee (1)

Real estate contract cancellation penalty tax(부동산 위약금에 대한 세금)

• middletoe
• Tax
• 2023.05.18

If party A, the lessee (tenant), paid a deposit of KRW 10 million to party B, the lessor (landlord), and wishes to cancel the contract, A can cancel the contract by forfeiting the deposit of KRW 10 million already paid. If B wishes to cancel the contract, B must return KRW 20 million, including the deposit of KRW 10 million already received plus an additional KRW 10 million(Here you can refer to..