What's New
  • Punitive damage is not tax deductible
  • CKC
    Views: 12647, 2018.07.31 22:58:59
  •  

    Punitive damage is not tax deductible

     

    (Current)

    • No regulation

     

    (New)

    • Punitive damage paid over the actual damage is not tax deductible;

    • When actual damage is not clear, two third of total damage payment is regarded as actual damage

       

      (Effective date)

    This change is effective to the financial year started from January 1, 2018

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Tag
  • INAA GROUP
  • Compandben SA
  • High Street Partners
  • Time of submission
  • Seoul Global Center
  • Knowing about Korea
  • National Tax Service
  • Minstry of Labor
  • National health Insurance
  • National Pension Service
  • Compensation & Welfare Service