Amendments to Korean tax laws were promulgated on January 1, 2014. Summarized below are the key amendments relevant to international taxation.
- Reduction in Special Income Tax Rate for Foreign Employees
- Abolition of Tax Reduction or Exemption on Dividends Received by Foreign Investors from Foreign-Invested Companies
- Tightening of Provisions on Information Collection on Overseas Income/Property
- Tightening of Provisions on Obligation to Submit Relevant Materials for Calculation of Reserved Income of Specified Foreign Corporations