Global

Details

  • Service: Tax, International Corporate Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 4/30/2012

Korea - R&D tax credits, high-value tax audits 

April 30:   Recent Korean research and development (R&D), audit, and tax court cases or items concern the following topics:
  • Increase of scope for R&D tax credits to include service sector
  • Consigned and re-consigned R&D that are applicable for R&D tax credits
  • National Tax Service establishes team to pursue indefinite high-value tax delinquencies
  • Tax authorities plan “intense” audits for “big conglomerates”

Tax court cases and authoritative rulings

  • Determination of tax resident status. Case identifying information: Daebub 2010 Du 19393 (27 January 2012)
  • Minimum tax application on R&D tax credit carryover in regard to corporate status change of small and medium size enterprises (SME) (Tax incentive policy bureau, MOSF-36, 20 January 2012)
  • Qualification of independent business unit. Case identifying information: Bubinsaegwa-25 (9 January 2012)

Read an April 2012 report [PDF 7 MB] prepared by the KPMG member firm in Korea: Tax Brief (April 2012)




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