Supplementary Provisions, Article 11Transitional Measures Accompanying Partial Amendment of the Local Tax Act

①With regard to real property acquisition tax imposed on land acquired through the implementation of a former farmland holding rationalization promotion project, the provisions of Article 73-27-6 of the Local Tax Act prior to amendment by the provisions of the preceding Article (hereinafter referred to as the "Former Local Tax Act") and Article 11-5 of the Supplementary Provisions of the Former Local Tax Act remain in force. In this case, in Article 73-27-6, paragraph (1) of the Former Local Tax Act, "when sold or exchanged through the implementation of that project" is deemed to be replaced with "when sold or exchanged through the implementation of that project, or when sold or exchanged through the implementation of the farmland sales project, etc. prescribed in Article 4, paragraph (2), item (i) of the Act on Promotion of Improvement of Agricultural Management Foundation (Act No. 65 of 1980) as amended by the Act on the Arrangement of Related Acts for the Strengthening of the Agricultural Management Foundation, or contributed in kind through the implementation of the project listed in item (iii) of that paragraph", in Article 11-5, paragraph (1) of the Supplementary Provisions of the Former Local Tax Act, "Article 73-27-6, paragraph (1)" is deemed to be replaced with "Article 73-27-6, paragraph (1) of the Local Tax Act prior to amendment by the Act on the Arrangement of Related Acts for the Strengthening of the Agricultural Management Foundation, which remains in force pursuant to Article 11, paragraph (1) of the Supplementary Provisions of that Act (hereinafter referred to as the 'Former Local Tax Act' in this Article)" and "Article 11-5, paragraph (1) of the Supplementary Provisions" is deemed to be replaced with "Article 11-5, paragraph (1) of the Supplementary Provisions of the Former Local Tax Act", and in paragraph (2) of that Article, "73-27-6, paragraph (1)" is deemed to be replaced with "Article 73-27-6, paragraph (1) of the Former Local Tax Act".

②The provisions of Article 73-27-7, paragraph (2) of the Local Tax Act as amended by the provisions of the preceding Article (hereinafter referred to as the "New Local Tax Act") apply to real property acquisition tax to be imposed on the acquisition of a replotted lot prescribed in that paragraph on or after the date of enforcement of this Act, and with regard to real property acquisition tax imposed on the acquisition of a replotted lot prescribed in Article 73-27-7, paragraph (2) of the Former Local Tax Act that a former farmland holding rationalization corporation acquired before that date, the provisions then in force continue to govern.

③The provisions of Article 586, paragraph (2), item (viii) of the New Local Tax Act apply to land prescribed in that item acquired on or after the date of enforcement of this Act, or to special land holding tax imposed on its acquisition, and with regard to land prescribed in Article 586, paragraph (2), item (viii) of the Former Local Tax Act that a former farmland holding rationalization corporation acquired before that date (including that land acquired on or after that date by a former farmland holding rationalization corporation pursuant to Article 3, paragraph (2) of the Supplementary Provisions), or to special land holding tax imposed on its acquisition, the provisions then in force continue to govern.