Corporate Income Tax

Corporation Income Tax

All corporations in Korea have to file a corporate income tax every year, even if there is no tax payable.  Corporate income tax rate ranges from 10% to 25% depending on the tax base.  ARATAX has been working with many foreign invested companies and companies owned by foreign CEOs.  

Clear communication with ARATAX about accounting and tax will ensure you a complete understanding of your company’s financial position, mitigating any potential tax risks.  ARATAX’s expertise in cross-border transactions and its full knowledge on international tax treaties are simply a plus to your company.
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ARATAX will do

• Year-end closing
• Preparation of corporate income tax return
• Adjustment of taxable income in accordance with Korean Tax Law
• Ongoing tax advice on regular and extraordinary issues
• Tax risk management advisory
• Support tax audits and representation by tax inspections

Value Added Tax

National Tax Service requires all corporations to issue Tax Invoice electronically via Hometax. VAT data is reported and maintained almost real-time basis in Korea and it is important to report the data properly as it becomes the back data of the corporate income tax filing.
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ARATAX will do

• VAT registrations and communication with the tax authorities
• VAT return filing (quarterly basis)
• VAT risk management advisory
• VAT closing report when company closes its business in Korea