What's New
  • Extension of general statutory taxation period for offshore transaction
  • CKC
    Views: 4646, 2019.07.31 19:20:36
  • Current



    Statutory taxation period for international transaction


     

    International transaction


      - TrTransaction between a resident and non-resident


         

    Statutory taxation period


    - Fraud and other unlawful activities: 15 years

    - Failure to file taxes: 7 years

    - Under-filing of taxes: 5 years



    Revised



    Introduction of the concept of offshore transaction and extension of the statutory taxation period


     

    International transaction Offshore transaction


    Transaction between a resident and non-resident

      - (

    Transaction of overseas assets and services between residents


     

    Extension of statutory taxation period

    - Fraud and other unlawful activities: 15 years

    - Failure to file taxes: 7 years 10 years

    - Under-filing of taxes: 5 years 7 years




    Applicable to tax obligations effective from Jan. 1, 2019


     





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114 1832 2020.01.03
113 2555 2019.11.22
112 3852 2019.09.26
4646 2019.07.31
110 5505 2019.07.04
109 9318 2019.01.09
108 8828 2018.11.14
107 10150 2018.09.17
106 10932 2018.09.07
105 12647 2018.07.31
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