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Foreign Corporations Should Be Careful When Borrowing Money from HQ (Thin Capital Taxation) 1.Estalbishment of Korea subsidaryWhen a foreign company establishes a business in Korea, the HQ typically invests a minimum of 100,000,000 KRW as the capital for its Korean subsidiary.This amount represents the minimum required investment to set up a business entity in Korea.However, depending on the company’s goals and circumstances, the capital investment can exceed 100,000,000 KRW. 2.Two opt.. 더보기
November Tax schedule in Korea 1.Withholding tax filing(11/11)When you pay your employees a salary, it is your responsibility to deduct taxes from their salary before paying them.*For example, if your employee has a contracted salary of 2,500,000 KRW, you must deduct 35,600 KRW for taxes, and pay your employee 2,464,400 KRW. The 35,600 KRW you deducted must be reported on a withhold tax return and paid to the tax office on be.. 더보기
Donations can cut your company tax. A donation, in tax terms, refers to giving money or goods to entities that are unrelated to a company's business. Companies often make donations as a way to share their profits with society, helping to create a more livable community.Naturally, there are tax benefits for these donations, as governments encourage companies to contribute to the public good.However, to prevent misuse of the tax ben.. 더보기
October Tax schedule in Korea 2024 1.Withholding tax filing(~10/10)When you pay your employees a salary, it is your responsibility to deduct taxes from their salary before paying them.*For example, if your employee has a contracted salary of 2,500,000 KRW, you must deduct 35,600 KRW for taxes, and pay your employee 2,464,400 KRW. The 35,600 KRW you deducted must be reported on a withhold tax return and paid to the tax office on b.. 더보기
[Corporation set up] How foreigners enter the domestic business in Korea? - 2 (Difference between 'Stock company' and 'Limited company) After you decided what kinds of business entity in Korea, If you decided to choose local corporation, the second decision you need to make is choosing the type of company.There are five types of companies in Korea: 1)Partnership Company, 2)Limited Partnership Company, 3)Limited Liability Company, 4)Stock Company, and 5)Limited Company. However, Stock Companies and Limited Companies are the most .. 더보기
September Tax schedule 1.Withholding tax filing(~9/10)When you pay your employees a salary, it is your responsibility to deduct taxes from their salary before paying them.*For example, if your employee has a contracted salary of 2,500,000 KRW, you must deduct 35,600 KRW for taxes, and pay your employee 2,464,400 KRW. The 35,600 KRW you deducted must be reported on a withhold tax return and paid to the tax office on be.. 더보기
What is this taxes?(Local tax pro rata business portion) I know that the names of taxes can be quite complicated.The tax called "Local Tax Pro Rata Business Place Portion" (as per Korean tax law terminology) is a local tax that companies pay every August.  1)Every business should pay this local taxIt's a relatively small amount (50,000 KRW to 200,000 KRW), and the taxes depend on the company's capital amount.When the capital amount is below 3,000,000,.. 더보기
August Tax schedule you should not miss! ln this month as the due dates are on weekend(8/10 - Saturday/ 8/31 - Saturday) the due dates for the each taxes are extended to next Monday(8/10 -> 8/12 , 8/31 -> 9/2) 1.Interim Corporate income tax filing  (~9/2)Corporations must prepare a financial statement for the first half of the year (January 1st to June 30th). Based on this financial statement, corporations should file a corporate incom.. 더보기

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