Tax updates
Annual proposed amendments to tax laws
- Expansion of R&D tax credit eligibility
- Reform of the integrated employment tax credit
- Rationalization of the criteria for non-deductible f excessive interest expenses relative to income
- Mandatory submission of non-taxation / exemption application and payment statement for domestic source personal service income
- Amendment of the tax refund claim for arm’s length price adjustment
- Abolishment of the premium valuation on shares held by major shareholders
Tax treaty update
- Korea-Türkiye tax treaty amendment
HR & payroll updates
- Violations identified on recruitment procedures by companies
- Minimum wage increase in 2025
- Adjustment in National Pension base salary
- Withholding requirement on all business income
Audit & accounting updates
- IFRS 18: Presentation and disclosure in financial statements
Please do not hesitate to contact us if you have any question.
Want to know more?
Julien Herveau Managing Partner of Forvis Mazars in Korea Seoul
