Institutional Long-Term Care Juridical Entities Act Article 19

Any institution that engages in long-term care services, as defined in Article 62 of the Long-Term Care Services Act, may apply for exemption from any land value increment tax if it completes registration as ainstitutional long-term care juridical entities in accordance with this Act within five years after this Act becomes effective and, during the aforesaid registration period, gratuitously transfers the land originally used for the purpose of long-term care services to the Institutional long-term care juridical entities for the same purpose. However, in the event of another transfer to a third party, a land value incrementalcapital gains tax shall be imposed, and the land value assessed before the gratuitous land transfer or the land value at the time of the penultimate transfer shall be the original land value.