Korea-Listed ETF Tax NAV Sale Ledger Calculator

Reconcile a taxable Korea-listed ETF sale using verified purchase lots, moving-average tax NAV, deductible fees, 14% national withholding and local tax, the KRW 1,000 waiver, net proceeds and broker differences.

2026 Korean ETF sale reconciliation · general accounts

Enter all purchases of one ETF in one account and its complete daily sale. Distributions, carryover, foreign tax adjustments, earlier partial sales or transfers require separate reconciliation.

Initial values and the worked-example button are hypothetical. Replace them with your verified records.

1. Verify account and tax treatment
2. Complete purchase ledger

Purchases are combined using a moving average. Taxes are not calculated independently by lot. Quantities are whole units; prices and tax NAVs accept two decimal places.

Purchase 1

Purchase 2

3. Daily sale, fees and broker comparison

For several executions, enter gross daily sale value divided by total units sold. Deductible fees affect taxable income; cash fees affect proceeds. Deductible fees are not subtracted again from net proceeds.

Supported rates: 14% national tax, plus local tax of 10% of national withholding. National withholding below KRW 1,000 is waived. Final annual income tax and loss offsets against other products are outside scope.

Review needed · tax withheld from display

Example general account · Example taxable ETF · 2026-10-08 · 100 units sold

  • Verify that the broker classifies this Korea-listed ETF as taxable on sale.
  • Confirm Korean resident individual status.
  • Verify execution prices and purchase / sale tax NAVs.
  • Verify all holdings and the absence of earlier sales, transfers or basis adjustments.
  • Include all same-day executions and confirm no other ETF sales in this account that day.
  • Verify the fees deductible from taxable income for this sale.
  • Distributions or tax carryover, including an unverified history, require broker reconciliation.
  • Foreign tax credits or adjustments, including unverified treatment, prevent simple-rate estimation.
Total withholding
Review needed
Net sale proceeds
Review needed
Net profit · including purchase fees
Review needed
National tax
Review needed
Local income tax
Review needed
Taxable income
Review needed

Moving averages and gain comparison

Average actual purchase price
11,000 KRW
Average purchase tax NAV
9,500 KRW
Trading gain · before fees
200,000 KRW
Tax NAV gain
50,000 KRW
Trading gain minus tax NAV gain
150,000 KRW
Broker gap · modeled minus verified
Review needed
Gross sale proceeds
1,300,000 KRW
Allocated purchase cost
1,100,000 KRW
Allocated purchase fees
100 KRW

Total held: 200 · Remaining after sale: 100

Taxable income = max(0, min(trading gain, tax NAV gain) − deductible fees). Gains shown during review are reference values, not confirmed taxable income.

Purchase-lot proportional gain contributions and allocation of aggregate tax
Purchase dateHeld unitsPurchase pricePurchase tax NAVProportional sale unitsTrading-gain contributionTax-NAV contributionAllocated aggregate tax
2026-08-0310010,000 KRW9,000 KRW50150,000 KRW50,000 KRWReview needed
2026-09-0110012,000 KRW10,000 KRW5050,000 KRW0 KRWReview needed

Fractional quantities and taxes in this table are proportional contributions to the aggregate. They are not actual lot-sale assignments or independent withholding. Display rounding may cause small differences when adding rows.

Financial-income reference and next steps

Annual financial-income reference: Review needed

Threshold comparison requires verified taxable income.

  1. Confirm moving-average tax NAV, the daily tax unit, carryover and foreign tax adjustments with the broker.
  2. Reconcile cash fees, deductible fees and national / local rounding.
  3. Save the ledger and record why actual settlement differs.
Financial income tax calculator

Inputs are processed on this page without separate storage. Download the CSV before refreshing.

Official sources · verified October 8, 2026

Why can Korean ETF sale tax differ from the trading gain?

For a Korea-listed ETF investing in foreign stocks, bonds or commodities, the gain on your account screen may differ from the income used for withholding.
If you sell to fund living expenses or another investment, check gross proceeds, withholding and cash fees to determine the usable cash.
This calculator reconciles a specific sale using verified purchases and tax NAVs rather than projecting long-term investment returns.

Tax NAV means the tax-base reference price, or tax assessment base price.
It reflects taxable gains and should not be replaced by ordinary net asset value, the execution price or the current quote.
Use the purchase-date and sale-date information supplied by your broker or fund manager.
The English interface uses Korean 2026 rules and KRW; it is intended for Korean resident individuals and does not apply another country’s ETF tax rules.

A forecast and a sale reconciliation answer different questions

Applying 15.4% to the entire trading gain can overestimate tax when tax NAV growth is smaller.
Assuming no withholding or omitting cash fees can overestimate proceeds.
The direction of an error depends on the inputs; this tool shows the difference between actual trading gain and tax NAV growth without promising a tax reduction.

Confirm the account and ETF tax classification first

Taxable Korea-listed ETFs in general accounts

The supported case is a Korean resident individual selling a taxable Korea-listed investment-trust ETF in a general taxable account.
Enter one ETF, one account and the complete sale for one date.
If there are several executions that day, use total units and a quantity-weighted actual sale price.
Verify the tax classification with the broker rather than inferring it from the fund name.

Exempt stock ETFs, foreign listings and sheltered accounts

Domestic stock ETFs exempt on sale, ETFs listed outside Korea, ISA and pension / IRP accounts are outside scope.
Distribution-deferral structures can introduce exceptions even for domestic stock products.
Selecting an unsupported type withholds the tax result from display; it does not mean that the product has no tax.

Distributions, carryover and foreign tax adjustments

A distribution or tax carryover can require the reference price immediately after the preceding settlement or distribution and investor-specific deferred gains.
Indirect foreign tax credits or adjustments can also change withholding.
An unverified absence remains review needed rather than zero tax.
Even a loss-making sale cannot use the simple minimum-gain calculation when these histories are present.

What the purchase and sale inputs mean

Purchase records for all holdings

Enter each purchase date, quantity, actual execution price, purchase tax NAV and cash purchase fee for the same account and ETF.
Quantities are whole units; prices and tax NAVs accept two decimal places.
The limit is 20 purchases and 1,000,000 units in total.
Entering only the purchases you would prefer to sell changes the average incorrectly; include all holdings.

Sale date and all daily executions

Enter a 2026 sale date, all units sold that day, actual sale price, sale tax NAV and cash sale fee.
Purchases must be on or before the sale date.
For several executions, divide total daily sale value by total units and reconcile any price-rounding difference with the statement.
Other ETF sales in the same account that day require separate verification of the tax unit and are outside the confirmed scope.

An account alias is enough; no account number is needed.
Identify the ETF by name or code, then verify residence, prices, full purchase history, daily aggregation and deductible fees separately.
The initial amounts are hypothetical rather than live quotes or fund disclosures.
Confirmation flags on a worked example cannot substitute for checking your own transaction.

Repeated ETF purchases use a moving average

Income Tax Act Enforcement Rule Article 13(6) and Article 13(8) require moving-average purchase tax NAVs for repeated purchases of the same ETF in the same account.
This tool supports a complete purchase history without intervening sales, transfers, splits or basis adjustments, so a sequential moving average equals the quantity-weighted average of all purchases.
It does not substitute the FIFO rule for ordinary funds or calculate an independent tax for each lot.

Average formulas and partial sales

Average actual purchase price = Σ(purchase units × actual purchase price) ÷ total held units.
Average purchase tax NAV = Σ(purchase units × purchase tax NAV) ÷ total held units.
Buying 100 units at KRW 10,000 and another 100 at KRW 12,000 gives an average price of KRW 11,000.
Tax NAVs of KRW 9,000 and KRW 10,000 give an average purchase tax NAV of KRW 9,500.
A sale of 100 out of 200 units uses those averages and leaves 100 units.

The lot table assigns analytical sale contributions according to each lot’s holding share.
Fractional contributions are not actual fractional sales or FIFO assignments.
Aggregate tax is allocated proportionally without reapplying the minimum, small-amount waiver or rounding to each row.
If you previously sold part of the holdings and bought again, do not simply combine the original purchases; obtain the current moving-average basis and adjustment history from the broker.

Trading gain, tax NAV growth and withholding formulas

The income used for withholding

Trading gain = (actual sale price − average actual purchase price) × units sold.
Tax NAV gain = (sale tax NAV − average purchase tax NAV) × units sold.
Taxable income = max(0, min(trading gain, tax NAV gain) − deductible fees).
The minimum-gain comparison and subsequent fee deduction follow Income Tax Act Enforcement Rule Article 13(3) and Article 13(4).
Do not put fees into both prices and then deduct them again.

National and local withholding

The ordinary national dividend withholding rate is 14%.
Local withholding is 10% of the national tax actually withheld.
The standard structure without foreign tax adjustments or other exceptions is commonly described as 15.4%.
Select truncation to KRW 1 or KRW 10 for each tax component; the default is a KRW 1 estimate.
Verify the broker’s actual rounding and complete daily tax unit.

National withholding below KRW 1,000

Income Tax Act Article 86(1) waives national withholding below KRW 1,000 for this dividend-income case.
If no national tax is withheld, local tax based on that amount is also zero.
Taxable income of KRW 7,000 generates national tax of KRW 980, which is waived.
KRW 7,142.86 generates KRW 1,000 national and KRW 100 local tax after KRW 1 processing.
Exactly KRW 1,000 is not below the threshold.

Separate cash fees from deductible fees

The cash sale fee is money taken from the proceeds of this sale.
Cash purchase fees were paid at acquisition, so they affect allocated cost and net profit rather than being deducted again from current proceeds.
Deductible fees are the broker-verified amount allowed to reduce taxable income for this sale.
Paying a cash fee does not automatically establish that the whole amount is tax deductible.

Why a cost appears in different calculations

Net sale proceeds = gross proceeds − cash sale fee − total withholding.
Net profit = net proceeds − allocated purchase cost − allocated purchase fees.
A deductible fee reduces the tax base; it is not an instruction to subtract the same cash fee twice.
In the example, half of the KRW 200 purchase fees is KRW 100; adding the KRW 100 sale fee gives KRW 200 of verified deductible fees.
For your trade, confirm the amount attributable to the units sold.

Deductible fees cannot exceed allocated purchase fees plus the cash sale fee.
Fund management fees may already be reflected in prices, so do not add the total expense ratio as another cash fee.
Redemption charges, special adjustments and other costs outside this scope require an itemized broker reconciliation.

Worked example: selling 100 units out of 200

The hypothetical purchases are 100 units at price KRW 10,000 / tax NAV KRW 9,000 and 100 at price KRW 12,000 / tax NAV KRW 10,000.
Each purchase fee is KRW 100.
Sell 100 units at price KRW 13,000 / tax NAV KRW 10,000, with a KRW 100 cash sale fee and KRW 200 deductible fees.
All supported conditions are verified and tax is truncated to KRW 1.
These numbers are checked against the shared pure calculation function and do not represent a promised product return.

Moving averages, taxable income, withholding and net proceeds for the hypothetical 100-unit partial sale
ItemAmount · KRW
Average actual purchase price / tax NAV11,000 / 9,500
Gross sale proceeds1,300,000
Trading gain / tax NAV gain200,000 / 50,000
Deductible fees / taxable income200 / 49,800
National / local tax6,972 / 697
Total withholding7,669
Net sale proceeds1,292,231
Net profit including purchase fees192,131

Where can a KRW 9 discrepancy come from?

Truncating national and local taxes to KRW 10 gives KRW 6,970 and KRW 690, totaling KRW 7,660.
If verified broker withholding is KRW 7,660, the KRW 1 estimate differs by KRW 9.
The gap is modeled withholding minus verified withholding; a positive number means the model is higher.
With all fees set to zero, taxable income is KRW 50,000 and withholding KRW 7,700.
Applying 15.4% to the full KRW 200,000 trading gain gives KRW 30,800, which uses the wrong base for this example.

Step-by-step use with broker records

  1. Verify a general taxable account and Korean resident individual status.
    Confirm listing location and sale tax classification separately.
  2. Gather all purchases for the ETF held in this account.
    Earlier partial sales, transfers, incoming holdings and splits are outside the simple history model.
  3. Enter each purchase date, execution price, quantity, tax NAV and purchase fee.
    Do not replace a missing tax NAV with ordinary NAV or a current quote.
  4. Aggregate every execution on the sale date and enter that date’s sale tax NAV.
    Confirm there are no other ETF sales in the account that day.
  5. Check distributions, carryover and indirect foreign tax credits or adjustments.
    Leave the state unverified when you cannot confirm it.
  6. Enter cash fees, deductible fees and the rounding setting separately.
    Calculate a new reconciliation and inspect national tax, local tax and net proceeds.
  7. If the broker’s withholding total is verified, enable the comparison.
    Ask about discrepancies in average tax NAV, daily aggregation, fees and rounding.
  8. Save the input and result CSV with actual settlement records.
    Changing an input hides the old result, so calculate again before saving.

Interpretation for spending and reinvestment plans

When actual trading gain is smaller

Using average price KRW 11,000 and purchase tax NAV KRW 9,500, sell 100 units at price KRW 11,200 / tax NAV KRW 11,000 with no fees.
Compare trading gain of KRW 20,000 with tax NAV growth of KRW 150,000.
Taxable income is KRW 20,000; national tax KRW 2,800 and local tax KRW 280 give withholding KRW 3,080.
Net proceeds are KRW 1,116,920.
Using only tax NAV growth would misstate the available spending budget.

A trading loss with positive tax NAV growth

Selling 100 units at KRW 10,500 against the same average price gives a trading loss of −50,000 KRW.
Even if sale tax NAV rises to KRW 10,000, supported conditions without distributions, carryover or adjustments produce a zero tax base.
Zero withholding does not remove the investment loss.
Cash fees still affect proceeds and net profit.

The KRW 20 million threshold is a reference comparison

Add this sale’s taxable income to annual financial income excluding this sale, then compare with KRW 20,000,000.
Exactly that amount is not above the threshold; one additional won is.
A small-amount withholding waiver does not erase taxable income from this reference.
The tool does not automatically resolve omitted accounts, distributions or statutory inclusion and exclusion rules.
Use annual income certificates and complete records for a separate comprehensive-tax review.

Review states and saving the evidence

Review needed is different from zero tax.
Unverified or unsupported conditions suppress taxable income, national tax, local tax, net proceeds, net profit, broker differences and annual financial totals.
Displayed averages and gains are reference values for preparing questions.
Distinguish this state from a calculated zero for a supported loss or break-even sale.

What is included in the CSV?

The CSV contains aliases, ETF identity, every purchase, sale date and quantity, prices and tax NAVs, confirmations, cash and deductible fees, rounding, broker comparison and modeled results.
Unverified values remain review needed; formulas and official sources are included.
The file is created in your browser, and ledger contents and amounts are not sent to analytics or a server.
There is no separate persistent storage on this page, so download the file before refreshing.

Lot-level tax is only a proportional allocation of the aggregate.
Adding rounded display values can produce a small discrepancy from the total.
Use the ledger to verify the overall average and daily tax unit rather than claiming that a specific acquisition lot was sold.
A negative gain does not establish a right to offset another ETF’s loss or recover earlier withholding.

Frequently asked questions

Does every Korea-listed ETF incur 15.4% sale tax?

No.
Verify the domestic stock / taxable classification, distribution-deferral structure and account type.
This tool calculates only supported taxable sales in general accounts with confirmed conditions.

Can ordinary NAV replace an unknown purchase tax NAV?

No.
Ordinary NAV, execution price and tax NAV are different records.
Ask the broker for the date-specific tax NAV or the required moving-average reconciliation.

Can I choose only the earliest acquisition lot?

Repeated purchases of the same ETF use a moving-average tax NAV.
The proportional table is not a FIFO sale assignment.
Include all held purchases.

Can I use the model after a taxed distribution?

That is outside scope.
Tax already paid on a distribution and deferred gains or reference-price adjustments at sale require separate verification.
Simply subtracting the original purchase tax NAV may be inaccurate.

Does zero withholding remove the amount from annual financial income?

Not automatically.
A small-amount waiver concerns collection, not erasure of taxable income.
Review annual inclusion rules together with your other financial income.

Does a difference of a few won prove the model is wrong?

Rounding, aggregation and deductible fees can cause differences.
The example totals KRW 7,669 under KRW 1 processing and KRW 7,660 under KRW 10 processing, a KRW 9 gap.
Also verify credits, carryover and average tax NAV.

Can this reconcile an ISA or pension-account sale?

Tax results for those accounts are outside scope.
Use account-specific exemption, netting and withdrawal rules and financial-institution records.

Can I manually subtract a foreign tax credit?

The supported model requires confirmed absence of foreign tax adjustments.
Application dates, limits, carryforward and local-tax treatment need broker verification; do not repair a simple-rate estimate with an arbitrary credit.

Official sources, effective dates and next checks

Current-law verification on October 8, 2026

Current search results and governing articles were obtained directly from the National Law Information OPEN API.
Income Tax Act MST 280405 has a search-version effective date of July 1, 2026; relevant Article 17, Article 129, Article 86 and Article 14 responses show January 1, 2026.
Decree MST 290841 is effective October 1, 2026.
Enforcement Rule MST 286379 shows July 1, 2026 for the search version and May 22, 2026 for Article 13.
Local Tax Act MST 282559 is effective July 1, 2026.
Whole-law and article-specific dates are recorded separately.

The governing provisions are Income Tax Act Article 17(1)(5), Article 129(1)(2)(b), Article 86(1) and Article 14(3)(6); Enforcement Decree Article 26-2; Enforcement Rule Article 13(3), (4), (6) and (8); and Local Tax Act Article 103-13(1).
The KRX guide was cross-checked, with current statutory text taking precedence for rates, moving averages, fees and the small-amount rule.
Recheck the sale-date product classification, average tax NAV, distributions, carryover, foreign tax treatment, deductible fees and broker rounding for each transaction.

Use the sale ledger to verify settlement

Reconcile input records when the modeled amount differs from the broker amount, then save the verified result.
Net proceeds are current cash received; net profit also accounts for acquisition costs.
That distinction helps you plan how much cash can actually be reinvested.
Use the ETF investment comparison calculator for longer-term product costs and the financial income tax calculator for annual tax review.

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