Korean insights & regulatory updates - Issue 10: January 2024

Introducing our new insights & regulatory updates for January 2024!

This publication mainly highlights important changes for your business and covers topics around annual amendments to tax laws, minimum wages increase, and new Exposure draft on ISSA and Financial Instruments with Characteristics of Equity.

Check out our Issue 10 for updates on the following key areas:

Tax updates: Annual amendment to tax laws

Mandatory reporting of overseas stock-based compensation information by employees
Introduction of Reporting Obligation for Offshore Trusts
Expansion of submission obligations on forms pertaining to related-party disclosures
Revised Definition of Permanent Establishment
Extension of the “flat rate” timeline for Foreign Workers
Amendments to the Dividend Received Deduction (“DRD”) system.