2018韩国税务简报（英文版）

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1、InternationalTaxKoreaHighlights2018Investmentbasics:fromaforeigncompanyare,inprinciple,subjecttocorporateincometaxinKorea,buttherecipientcompanyCurrency–SouthKoreanWon(KRW)maybeeligibleforanindirectforeigntaxcreditforForeignexchangecontrol–Controlsexist,butforeignincometaxpaid

2、bytheforeigncompanyinitsgraduallyhavebeenliberalized.Foreignloansinexcessofcountryofresidence.aspecifiedamountmustbereportedinadvancetotheCapitalgains–Capitalgains(orlosses)generallyareMinistryofStrategyandFinance.Loansgrantedtoforeignreflectedintaxableincomesubjecttocorporate

3、incomeborrowersalsomustbereported.tax.Korean-sourcecapitalgainsderivedbyanonresidentAccountingprinciples/financialstatements–Koreanaretaxedatthelesserof11%(includingthelocalsurtax)GAAPandIFRS.IFRSismandatoryforlistedcompaniesofthesalesproceedsreceivedor22%(includingthelocaland

4、financialinstitutionsandoptionalforunlistedsurtax)ofthegainsrealized.companies.Losses–Lossesmaybecarriedforwardforupto10Principalbusinessentities–Thesearethestockyears.Asfrom1January2018,companiesotherthancorporation,limitedliabilitycompanyandbranchofasmallandmedium-sizedenter

5、prises(SMEs)mayutilizeforeigncorporation.theirtaxlosscarryforwardstosetoffonly70%oftheCorporatetaxation:taxableincomeforafiscalyear.SMEsmaybeallowedtocarrylossesbackforoneyear.Residence–AcorporationisresidentinKoreaifitsheadquartersorplaceofeffectivemanagementisinRate–Thetaxra

6、teis10%onthefirstKRW200millionKorea.oftaxableincome,20%ontaxableincomeaboveKRW200millionuptoKRW20billion,22%ontaxableincomeBasis–Residentsaretaxedonworldwideincome;aboveKRW20billionupto300billionand25%onnonresidentsaretaxedonlyonKorean-sourceincome.taxableincomeaboveKRW300bill

7、ion.Taxableincome–CorporateincometaxisimposedonaSurtax–Thelocalincometaxrateis1%onthefirstcompany'staxableincome,whichisitsbooknetincomeKRW200millionoftaxableincome,2%ontaxableafteradjustmentsfordifferencesbetweentheaccountingincomeaboveKRW200millionuptoKRW20billion,andtaxrule

8、s.Subjecttosomeexceptions,normal2.2%oftaxableincomeaboveKRW20