December 06, 2011
The South Korean government intends to reduce the top marginal corporate tax rate from 22% to 20% in 2012 for businesses with a taxable income of between W200 million ($178,000) and W50 billion ($45 million), in a welcome move for SMEs.
November 08, 2011
David Gillon, representative of HMRC in the UK and the Joint International Tax Shelter Information Centre (JITSIC), told delegates at the IBA annual conference of the benefits that JITSIC is providing.
September 12, 2011
South Korea has announced that it will impose a withholding tax on interest received by overseas investors in foreign currency bonds.
August 11, 2011
Hyundai Motor India Ltd (HMIL), the largest domestic exporter of cars, and Mobis India Ltd, its parent company’s subsidiary, which imports critical components for HMIL’s manufacturing plants, are facing charges of tax evasion in India, for the period from July 2005 to December 2010. The case calls into question Hyundai’s continued qualification for a favourable customs regime that other international taxpayers also benefit from.
August 02, 2011
The knowledge of Asia’s international tax professionals is “not good enough” to cope with the rapid growth the region is experiencing, says a leading tax official.
July 20, 2011
Multinational companies in Asia need to “think on their feet” and “simplify existing structures” if they are to avoid the attention of increasingly revenue-hungry tax authorities, says a group of the region’s leading tax directors.
July 07, 2011
The Korean Supreme Court on April 28 affirmed that gains from yen swap deposits cannot be characterised as interest income.
February 07, 2011
The National Tax Service (NTS) in Korea will create a permanent division responsible for investigating offshore tax non-compliance.