Asia Pacific

Latest tax guidelines summarizing startup support systems and mandatory reporting requirements for business owners to ensure compliance. Disclaimer:This article is compiled and summarized based on publicly available information and is for general information and academic exchange purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. For

As of 24 July 2026, the Korean National Tax Service (NTS) has issued Notice 26-020 directing intensified enforcement actions targeting unreported income and concealed transactions within everyday citizen economic activities. The regulation stems from recent audit findings revealing systematic underreporting of cash-based services, peer-to-peer rentals, and digital platform earnings. Tax authorities will deploy cross-agency data

Effective 24 July 2026, the Korean National Tax Service released Notice 260-19 imposing stricter reporting obligations on real-estate dealings to combat rising transaction-based tax avoidance schemes. The directive mandates that all property transfers, including gifted assets and off-balance-title arrangements, be reported within 30 days of contract signing. Enhanced scrutiny applies to speculative flipping, undisclosed joint-ownership

Published 24 July 2026, Notice 26-015 expands the NTS’s enforcement framework for virtual-asset income, targeting both resident holders and non-resident beneficiaries of crypto-currency gains. The directive requires domestic exchanges to submit detailed trader-to-trader transaction logs monthly, while non-resident investors must declare overseas-held digital assets through the newly established 해외가상자산 신고 시스템 (Overseas Virtual-Asset Reporting System).