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For investors in enterprises in the Korean semiconductor industry and other national strategic industries, a new tax bill has been passed that (i) increases the base tax credits received by these enterprises...

The Ministry of Strategy and Finance finalized scope of Combined Report of International Transactions and confirmed taxpayers subject to the CRIT requirement through its official announcement...

In Korea, what taxation would be levied on foreign corporations that do not have a permanent establishment in Korea if they receive royalties from Korean domestic corporations in exchange for the transfer (or licensing) of patents and other intangible assets?

Tax laws including the Law for Coordination of International Tax Affairs, the Corporate Income Tax Law, the Individual Income Tax Law and the Special Tax Treatment Control Law have been amended in order to enforce BEPS related international taxation guidelines.

On July 22, 2020, the Ministry of Economy and Finance publicly released the 2020 draft Tax Revision Bill (the ‘Draft Bill').

The amendment will expand the scope of MAP applicants so that even non-residents or foreign companies not having a place of business in Korea can request a MAP.

한국에 고정사업장(Permanent Estabilishment)이 없는 외국법인이 자신의 특허권 등 무형자산을 한국의 기업에 양도(또는 사용허락)하고 그 대가(사용료; royalty)를 받는 경우 Ȣ