What's New
  • Extension of general statutory taxation period for offshore transaction
  • CKC
    Views: 3227, 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
114 364 2020.01.03
113 1144 2019.11.22
112 2218 2019.09.26
3227 2019.07.31
110 3701 2019.07.04
109 7765 2019.01.09
108 7542 2018.11.14
107 8764 2018.09.17
106 9550 2018.09.07
105 11244 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