Provided below is a summary of the major amendments to Korean tax laws promulgated on January 1, 2013 that are relevant to international tax.

  1. Refinement of the Provisions concerning Overseas Financial Account Reporting
  2. Special Rule for Passive Foreign Partners of PEF
  3. Tax Benefits for Certain Foreign-Currency Denominated Long-Term Time Deposits held by Non-residents
  4. Extension and Amendment of Special Income Tax Rates for Foreign Employees