A number of fintech and proptech startups that operate solutions for buying and selling commercial real estate in small amounts are emerging. In relation to this business model, we advised on the tax paid by investors when the (quasi) share of real estate (securities) was traded in the form of digital securities (DABS) and when digital beneficiary securities (LCB) were traded. We provided a review opinion on tax issues based on the view that the above DABS and LCB are collective investment securities pursuant to Article 9, Paragraph 21 of the Capital Market Act, and provided advice on taxes borne by platform operators that provide trading services.
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