South Korea

A comprehensive guide covering youth startup support programs and step-by-step corporate tax filing procedures for business operators. 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 […]

On August 10, 2026, the Korean National Tax Service issued a formal announcement detailing targeted tax support measures for individual and corporate taxpayers residing in areas designated as special disaster zones following record-breaking rainfall and widespread flooding during the preceding month. The announcement specifically addresses the tax obligations of affected taxpayers who experienced property damage,

Following recent severe flooding that prompted the declaration of multiple disaster‑affected zones, the National Tax Service issued a directive on 9 August 2026 to provide temporary tax relief to impacted businesses and individuals. The measure is intended to alleviate cash‑flow pressures and support rapid recovery for taxpayers whose operations have been disrupted by the natural disaster. Key

Overview of upcoming amendments to capital gains tax regulations for individuals owning two or more high-value properties, effective next year. 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

Penalty framework details 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 tax planning, please consult a qualified professional tax advisor or legal counsel. Source: Read

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).

Notice 26-018, released on 24 July 2026, streamlines the value-added tax refund process for enterprises supplying services abroad, aiming to reduce administrative burdens and accelerate cash flow for exporters. The amendment permits electronic submission of export-service invoices through the VAT refund portal, eliminating the prior requirement for paper-based certification from foreign recipients. Refund processing times