Korean and cross-border tax, handled in one office
From audits and liquidation for foreign companies to non-resident inheritance, gifts and property transfers, Korea–U.S. income tax filing and bookkeeping — explained case by case, against the statute itself.
- Korean CTAPrincipal Tax Accountant Park Dongguk advises directly
- Foreign companiesAudits · liquidation · transfer pricing
- Non-residentsInheritance · gift · capital gains
Services
Four core services for foreign nationals, foreign companies and overseas Koreans
Integrated tax consulting focused on foreign nationals and cross-border matters
Led by Principal Certified Tax Accountant Park Dongguk, Tax Guide handles the tax problems that foreign-invested companies and overseas Koreans run into, in one place. We settle the premises that decide the outcome — residency status, above all — before designing the filing.
- Audits, closure and liquidation, transfer pricing and withholding for foreign-invested companies
- Inheritance and gift tax for non-residents, and capital gains on Korean property
- Korean and U.S. income tax filing, and application of the foreign tax credit
- Bookkeeping, payroll, social insurance and routine filings for foreign companies
WHY TAX GUIDE
- Deadlines, rates and deductions are checked article by article against the Korean Law Information Center
- We settle the premises that decide the outcome first — residency status and where the property sits
- The full range of foreign-company work — audits, liquidation, bookkeeping, payroll — in one place
Latest insights
Recurring tax questions, set out with their statutory basis
- Overseas accounts
Overseas financial account reporting: check the exemptions first
A resident or domestic corporation holding overseas financial accounts whose aggregate balance exceeded KRW 500m on any month-end of the year must report between 1 and 30 June of the following year (Act on Adjustment of International Taxes, Art. 53(1); Enforcement Decree, Art. 92). Foreign residents under the proviso to Income Tax Act Art. 3(1), overseas Koreans with 182 days or less of residence in Korea and others are exempt under Art. 54.
Overseas financial account reporting: check the exemptions first — Read more - Non-resident tax
Non-resident rental income in Korea: taxed on an aggregated basis
Income from leasing real estate or rights over real estate located in Korea is a non-resident’s domestic-source real-estate income (Income Tax Act, Art. 119, subpara. 3). A non-resident with such income is taxed on an aggregated basis (Art. 121(2)), so filing and payment in Korea must be prepared even while living abroad.
Non-resident rental income in Korea: taxed on an aggregated basis — Read more - Foreign corporation tax
Foreign liaison offices in Korea: 10 February filing and PE line
A liaison office of a foreign corporation that carries on no revenue-generating activity in Korea and performs only non-business functions such as liaison and market research must submit the status information prescribed by Presidential Decree to the district tax office by 10 February of the following year (Corporate Tax Act, Art. 94-2(1)). If its actual activities meet the domestic place of business test in Article 94, however, it is not a liaison office.
Foreign liaison offices in Korea: 10 February filing and PE line — Read more
One office for your cross-border tax questions
Foreign-corporation tax, cross-border inheritance and gifts, Korea–U.S. income tax — we explain exactly how your own case is treated. Please get in touch.