National Tax Service

The
National Tax Service is spurring its support efforts in the tax area for overseas
Korean companies, particularly along the lines of listening to complaints and
resolving them. Here\'s a brief outline of the support available for taxpayers.

Overseas
Postings of Tax Specialists in 11 Countries

The
NTS announced that it is in talks with relevant government authorities over
setting up 11 tax specialist posts in countries in which there is significant
Korean corporate investment, including China, Vietnam, Indonesia, Hong Kong,
the Philippines, and Thailand.

The
NTS explained that there is currently only one tax officer dispatched overseas
- in the Chinese capital of Beijing - leaving the rest of the Asian region void
of any expert-level tax advisors. Companies operating in these markets have
already filed formal requests with local Korean authorities asking for NTS tax
officials with knowledge in the local tax laws to be posted on-site.

Customized
Tax Services

The
NTS held its first round of "Tax Information Roadshow" in Qingdao, China (April
17) and Ho Chi Minh, Vietnam (April 19). More than 200 Korean companies showed
up over the two days, during which attendants listened to presentations on the
revised tax laws of China and Vietnam. Stating that these roadshows received
more attention than had originally been anticipated, the NTS revealed that it
will schedule such roadshows on a more continuous basis.

Four
new "Country Tax Guidance" books have been published at the end of April.
The countries covered this time are Russia, Mongolia, Republic of Kazakhstan,
and the Republic of Uzbekistan. This follows the creation of a communications
channel on the NTS website offering services exclusively for companies seeking
tax information of overseas markets.