What's New
  • Extension of general statutory taxation period for offshore transaction
  • CKC
    Views: 4040, 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


     





Comment 0 ...

No.
Subject
114 1171 2020.01.03
113 1894 2019.11.22
112 3061 2019.09.26
4040 2019.07.31
110 4617 2019.07.04
109 8638 2019.01.09
108 8304 2018.11.14
107 9551 2018.09.17
106 10335 2018.09.07
105 12054 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