2023 Tax Law Amendment Proposal - International Tax
2023.08.03.
In late July 2023, the Korean Ministry of Economy and Finance announced the 2023 tax law amendment proposal which includes the deferral of the Undertaxed Payment Rule (“UTPR”) implementation to January 1, 2025. The proposed amendments are subject to approval by the National Assembly (Korean Parliament). We have summarized the key proposed changes which relate to international tax and/or may have an impact on multinational enterprises (“MNEs”) with operations in Korea. We will monitor the developments of the legislative process and provide updates if there are any significant changes to the proposal.
Expertise
Professionals
.JPEG)
.JPEG)
