Korea

Details

  • Service: Tax
  • Type: KPMG information, Press release
  • Date: 5/22/2013

Tax Brief 2013 May 

 
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I. Tax Trend
High Court appeal ruling "foreign fund resulting in principal loss may also be taxed for its foreign

exchange profit"

 

II. Major recent tax court cases and authoritative rulings
(1) Input-VAT deductibility on depreciable assets when "residential premises" is leased for commercial

purposes(Bupgyubuga2013-43, 2013.02.15)
(2) Tax credit for third-party logistics expense(Jaejoteuk-133, 2013.0215)
(3) Input tax deductibility on travel expenses paid on behalf of foreign travel agencies for foreign

tourists(Buga-173, 2013.02.19)
(4) Tax treatment for capital gain/loss from the disposal of fixed assets by the acquiring company

which maintains separate financial accounting, and used commonly(Jaebubin-182, 2013.03.11)

 

III. Tax Topic
(1) Summary
(2) Deemed dividend due to the transfer of corporation's surplus into capital or financing
(3) Deemed dividend due to capital reduction, dissolution, merger, or division