Tax Calendar
Recent tax rulings and cases
- A domestic company that operates its business for at least one year as of the merger registration date, may defer appraisal gains on assets. (Beobin-792, 2009.07.14)
- In the case a company’s employee establishes an employee council and operates a company cafeteria and the company and employee both bear the related expenses, there will not be any VAT obligations. However, if the same cafeteria is provided to related companies’ employees, there will be VAT obligations.(VAT-1208, 2009.08.28)
Tax Topic
Key tax issues concerning the adoption of IFRS
1. Differences between IFRS and CITL in revenue recognition
2. Key tax reconciliation items and key issues
Proposal for the Tax Law Amendments
1. Corporate Income Tax Law
2. Tax Incentive Limitation Law
3. The individual income tax laws
4. The capital gain tax laws
5. The estate and gift tax laws
6. The value added tax laws
7. Basic Law of National Taxes
8. National Tax imposition method
9. International Tax Affairs Act