Education tax is a tax levied upon the income of persons engaged in the banking and insurance businesses and various taxes such as surtax. The tax base and the tax rate are as follows.
Securities Transaction Tax
The Securities Transaction Tax (STT) is levied when the securities are transferred. The basic tax rate of STT is 0.5 percent and elasticity tax rates of STT are 0.15 percent to 0.3 percent. In the case of listed stocks, the taxpayers are securities settlement corporations and securities companies. In the case of unlisted stocks, the taxpayer is the transferor. However, in the event that a non-resident foreign corporation, whose business place is not within the country, transfers securities, the purchaser of the securities must withhold taxes from the purchase price on a securities transaction certificate, and the location of the main office of the corporation that issued the securities becomes the location responsible for tax payment.