Revenue Stamp Act


Published: 2012-12-18

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 Article 1 (Purpose)   print
The purpose of this Act is to prescribe the issuance and management of revenue stamps and the payment of annual revenue by means of revenue stamps.
[This Article Wholly Amended by Act No. 9514, Mar. 25, 2009]
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 Article 2 (Issuance and Management of Revenue Stamps)   print
(1) Revenue stamps, including revenue stamps that are issued by information and communications networks (hereinafter referred to as "electronic revenue stamps"; hereinafter the same shall apply), shall be issued and managed by the Minister of Strategy and Finance. <Amended by Act No. 11551, Dec. 18, 2012>
(2) The types, specifications and shapes of revenue stamps shall be prescribed by Presidential Decree.
[This Article Wholly Amended by Act No. 9514, Mar. 25, 2009]
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 Article 3 (Sale of Revenue Stamps)   print
(1) Revenue stamps shall be sold at post offices, financial companies, etc. (hereinafter referred to as "financial companies, etc.") prescribed by Presidential Decree, or revenue stamp booths pursuant to Article 4 (3). <Amended by Act No. 11551, Dec. 18, 2012>
(2) In addition to selling revenue stamps pursuant to paragraph (1), in the case of electronic revenue stamps, the Minister of Strategy and Finance may make a direct sale or sell through an administrative agency as prescribed by Presidential Decree to a person who intends to buy a revenue stamp through an agency (hereinafter referred to as "electronic revenue stamp agency") entrusted with business under Article 9 (2). <Newly Inserted by Act No. 11551, Dec. 18, 2012>
[This Article Wholly Amended by Act No. 9514, Mar. 25, 2009]
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 Article 4 (Contracts, etc. for Sales of Revenue Stamps)   print
(1) A person who intends to sell revenue stamps (hereinafter referred to as "seller"), other than post offices and financial companies, etc., shall conclude a contract for the sale of revenue stamps with the Minister of Strategy and Finance. <Amended by Act No. 11551, Dec. 18, 2012>
(2) The qualification requirements for sellers shall be prescribed by Presidential Decree.
(3) In order to sell revenue stamps, a seller shall establish a revenue stamp booth at a place designated by the Minister of Strategy and Finance.
[This Article Wholly Amended by Act No. 9514, Mar. 25, 2009]
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 Article 4-2 (Purchase of Electronic Revenue Stamps)   print
A person who intends to purchase electronic revenue stamps may purchase them by a credit card, debit card, electronic payment using information and communications networks, or similar method through the payment system provided by an electronic revenue stamp agency.
[This Article Newly Inserted by Act No. 11551, Dec. 18, 2012]
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 Article 6 (Commissions)   print
(1) The State shall pay commissions to post offices and financial companies, etc., which sell revenue stamps as prescribed by Presidential Decree, as well as the Bank of Korea and electronic revenue stamp agencies, which manage revenue stamps in accordance with this Act. <Amended by Act No. 11551, Dec. 18, 2012>
(2) Post offices, financial companies, etc., and electronic revenue stamp agencies shall pay to the State an amount calculated by subtracting commissions pursuant to paragraph (1) from sale proceeds of revenue stamps. <Amended by Act No. 11551, Dec. 18, 2012>
(3) When the State sells revenue stamps to sellers, it shall sell them at a discount, as prescribed by Presidential Decree.
[This Article Wholly Amended by Act No. 9514, Mar. 25, 2009]
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 Article 7 (Supervision)   print
(1) In order to appropriately manage revenue stamps, the Minister of Strategy and Finance may give necessary directions to the Bank of Korea, electronic revenue stamp agencies or post offices and financial companies, etc. or may allow public officials under his/her supervision to examine necessary matters. <Amended by Act No. 11551, Dec. 18, 2012>
(2) The Bank of Korea and electronic revenue stamp agencies may request post offices, financial companies, etc. or revenue stamp booths to submit data necessary for the management of revenue stamps. <Amended by Act No. 11551, Dec. 18, 2012>
[This Article Wholly Amended by Act No. 9514, Mar. 25, 2009]
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 Article 8 (Responsibility for Recompense)   print
Article 4 (3) and (4) and Articles 6 through 8 of the Act on Liability of Accounting Personnel, etc. shall apply mutatis mutandis to persons who are appointed by the Governor of the Bank of Korea, the heads of financial companies, etc. or persons entrusted by them to receive, deliver, and keep revenue stamps. <Amended by Act No. 11551, Dec. 18, 2012>
[This Article Wholly Amended by Act No. 9514, Mar. 25, 2009]
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 Article 9 (Entrustment of Business)   print
(1) Business concerning the management of revenue stamps (excluding electronic revenue stamps) and the conclusion of sales contracts, etc. thereof by the Minister of Strategy and Finance under this Act shall be partially entrusted to the Bank of Korea, as prescribed by Presidential Decree.
(2) The Minister of Strategy and Finance may partially entrust business concerning the management of electronic revenue stamps and the conclusion of sales contracts, etc. thereof to a related professional agency, as prescribed by Presidential Decree.
[This Article Wholly Amended by Act No. 11551, Dec. 18, 2012]
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 Article 9-2 Deleted. <by Act No. 5695, Jan. 29, 1999>   print
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 Article 10 Deleted. <by Act No. 5695, Jan. 29, 1999>   print
ADDENDA
(1) (Enforcement Date) This Act shall enter into force on May 1, 1980.
(2) (Transitional Measures) Revenue stamps generated by the Act on Payment of Taxes by Means of Revenue Stamps before this Act enters into force shall be deemed to have been generated pursuant to this Act.
(3) (Transitional Measures) The Minister of Communications may, at the request of a seller who keeps revenue stamps at a stamp booth, repurchase the revenue stamps at their initial sales price until April 30, 1980. In such cases, the amount of such repurchase shall be provided by the sales proceeds of other revenue stamps.
(4) (Repealed Act) The Act on Payment of Taxes by Means of Revenue Stamps shall be repealed.
ADDENDA <Act No. 5453, Dec. 13, 1997>
Article 1 (Enforcement Date)
This Act shall enter into force on January 1, 1998. (Proviso Omitted.)
Article 2 Omitted.
ADDENDUM <Act No. 5454, Dec. 13, 1997>
This Act shall enter into force on January 1, 1998. (Proviso Omitted.)
ADDENDA <Act No. 5695, Jan. 29, 1999>
(1) (Enforcement Date) This Act shall enter into force three months after the date of its promulgation.
(2) (Transitional Measures concerning Sellers) A person designated as a revenue stamp seller pursuant to the previous provisions as at the time this Act enters into force shall be deemed to have concluded a contract for the sale of revenue stamps pursuant to the amended provisions of Article 4 (1).
ADDENDA <Act No. 6461, Apr. 7, 2001>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation.
Articles 2 through 4 Omitted.
ADDENDA <Act No. 8852, Feb. 29, 2008>
Article 1 (Enforcement Date)
This Act shall enter into force on the date of its promulgation. (Proviso Omitted.)
Articles 2 through 7 Omitted.
ADDENDUM <Act No. 9514, Mar. 25, 2009>
This Act shall enter into force on the date of its promulgation.
ADDENDA <Act No. 11551, Dec. 18, 2012>
Article 1 (Enforcement Date)
This Act shall enter into force one year after the date of its promulgation.
Article 2 Omitted.