Proposed Tax Law Changes for 2019 (Selected Items)

*Updated to include relevant revisions in enforcement decrees

 

In December 2018, the Korean National Assembly passed the tax amendments proposed by the Ministry of Economy and Finance. As a follow-up measure for these amendments, the amendments to the Presidential Decrees of the relevant tax laws were promulgated on February 12, 2019.  Separately, in December 2018 the Korean National Assembly passed the amendments to the local tax laws proposed by the Ministry of the Interior and Safety, and the Ministry promulgated the amendments to the Presidential Decrees of the relevant local tax laws. Kim & Chang provides a summary of significant amendments to the Tax Laws and the Presidential Decrees thereof.  The amendments generally took effect as of January 1, 2019 although different effective dates have been specified in some cases.

The publication includes updates on:

-          International Tax

-          Finance Tax

-          Corporate Income Tax and Value Added Tax

-          National Tax Basic Law

-          Individual Income Tax

-          Customs Duties

-          Local Tax

Please click here, to visit the website of Kim & Chang and get further information.   

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