International Tax

Business Operations in the Republic of Korea (Portfolio 7210)


Tax Management Portfolio, Business Operations in the Republic of Korea, No. 7210, deals with the taxes and tax problems most likely to be encountered by foreign firms doing business in the Republic of Korea.

The Detailed Analysis provides a summary of the Korean tax system and detailed treatment of the major taxes affecting business: the individual and corporate income taxes and the value added tax. Tax presence is discussed separately, in detail, because of its importance as a threshold issue.

The Worksheets include corporation tax forms and tax rates.

This Portfolio may be cited as Kim and Choi, 7210 T.M., Business Operations in the Republic of Korea.

Table of Contents

Detailed Analysis
I. The Republic of Korea: The Country, Its People, Government and Economy
II. Operating a Business in Korea
III. Forms of Doing Business in Korea
IV. Tax System and Principal Taxes
V. Taxation of Corporations
VI. Taxation of Foreign Corporations
VII. Taxation of Branches
VIII. Taxation of Partnerships
IX. Assets Revaluation Law
X. Taxation of Individuals
XII. Inheritance and Gift Tax
XIII. Transactions Between Parties in a Special Relationship
XIV. Value Added Tax Law
XV. Tax Incentive Limitation Law
XVI. National Tax Basic Law
XVII. Surcharges
XVIII. Land-Related Tax
XIX. Avoidance of Double Taxation
Woo Taik Kim
Tax Partner
Kim & Chang
Im Jung Choi
Im Jung Choi
Tax Attorney/CPA
Kim & Chang
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