After the global economic recession, the Korean tax authorities intensified their tax audits. To effectively defend against the tax authorities’ challenges, more taxpayers are considering the development of robust transfer pricing documentation or applying for an advance pricing arrangement, point-out Hwang Su Hyun, Ha Dong Hoon, Warren Chung and Ahn Sang Min of KPMG.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year