Korea

Details

  • Service: Tax
  • Type: KPMG information, Press release
  • Date: 6/26/2012

Tax Brief 2012 June 

 
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I. Tax Trend
Chasing delinquent taxes of the owners of conglomerates to loan sharks
Exemplary taxpayers to reap collateral-free loan benefits

II. Recent tax rulings
VAT treatment on the transfer of an intangible asset registered, used and consumed outside of Korea (Buga-437, 2012.04.17)
Applicability of the rule, “Denial of unfair transaction” to an uneven capital increase of a foreign corporation (Bubin-267, 2012.04.13)
A service recipient to be stated under an invoice for VAT purposes where an agent enters into a lease agreement with a lessor on behalf of a lessee (Bubgyububin2012-98, 2012.04.17)

III. Tax Topic – Permanent Establishment
Ordinary PE
Deemed PE
Filing of a PE