Toss Securities said on the 24th that it launched a domestic stock return account (RIA).
An RIA is a system that can reduce capital gains tax on overseas stock revenue if certain conditions are met. After selling overseas stocks or overseas-listed exchange-traded funds (ETF) and then investing in domestic stocks or domestic stock-type ETFs, or keeping funds for a certain period, tax benefits apply.
Investors who expect capital gains of 2.5 million won or more from overseas stock investing can receive tax-saving benefits through an RIA account. Tax benefits are deductible up to 100% within a sale amount limit of 50 million won. However, the deduction rate gradually decreases depending on the timing of the sale.
Toss Securities provides a feature that allows investors to check their expected tax-saving benefits in advance during the account opening process so they can more easily understand and use RIA benefits. The estimated tax amount is calculated based on transaction data within Toss Securities and may differ from the actual tax amount.
Toss Securities will offer free domestic stock transaction fees through June 30. When exchanging currency after selling overseas stocks through an RIA account, a preferential exchange rate will also apply.
A Toss Securities official said, "Because an RIA is a system where one must understand complex tax conditions to receive tangible benefits, we focused on designing the user experience so customers can easily understand and use it," adding, "We will continue to strengthen investment convenience and benefits that customers can feel."