part 6

part 6 is here and part 7 is on 21st July. At present, monolithic allocation rule is adopted in Korea, and under the Korea's partnership taxation regime, the concept of the Capital Account has no independent meaning from the Outside Basis, whereby the Outside Basis always replaces the Capital Account by disallowing the non-recognition of the built-in gain or loss at the time of the contribution of the property. On the other hand, special allocation is freely allowed in China, but it is regulated only by the provision that all profits should not distributed to some of the partners or that some partners will bear all losses, which makes me interested and curious about the background of the regulation.

Continuation: part 6 is here and part 7 is on 21st of July. >>CorrectAt present, monolithic allocation rule is adopted in Korea, and under the Korea's partnership taxation regime, the concept of the Capital Account has no independent meaning from the Outside Basis, whereby the Outside Basis always replaces the Capital Account by disallowing the non-recognition of the built-in gain or loss at the time of the contribution of the property. >>Correct On the other hand, special allocation is freely allowed in China, but it is regulated only by the provision that all profits should not distributed to some of the partners or that some partners will bear all losses, which makes me interested and curious about the background of the regulation.. >>Correct