NTS Announcement
In regard to recent newspaper articles about "tax investigation on 900 foreign companies and foreign-invested companies", the NTS officially states that it is not true.
The report severely misrepresented the NTS position. The NTS sent letters concerning tax return filings to 116 foreign companies and 150 foreign-invested companies for honest tax return filings. The letters were sent for information provision. They have nothing to do with tax investigation plan.
Recently the NTS held tax conferences with foreign business communities including AMCHAM, EUCCK, Seoul Japan Club. At the conference, the NTS presents tax law changes, tax return filings guideline and selected tax issues to provide information on the Korean tax administration. The NTS endeavors to improve taxpayer services and business climate from a tax administration perspective.
Please understand that the NTS has no intention of discouraging investment of foreign companies in Korea.
How satisfied are you with our website?
