Amendments to Korean tax laws were promulgated on January 1, 2014. Summarized below are the key amendments relevant to international taxation.

  1. Reduction in Special Income Tax Rate for Foreign Employees
  2. Abolition of Tax Reduction or Exemption on Dividends Received by Foreign Investors from Foreign-Invested Companies
  3. Tightening of Provisions on Information Collection on Overseas Income/Property
  4. Tightening of Provisions on Obligation to Submit Relevant Materials for Calculation of Reserved Income of Specified Foreign Corporations