2026 Tax Law Amendment Proposal – International Taxation
2026.08.13.
On August 3, 2026, the Korean Ministry of Economy and Finance (“MOEF”) released the 2026 Tax Law Amendment Proposal. The proposed amendments are intended to ‘support a major economic leap toward becoming an irreplaceable Republic of Korea’ and focus on enhancing Korea’s growth potential, supporting the livelihoods of the general public, middle-class households and young people, strengthening region-led growth, and promoting tax reform to achieve a fairer and more rational tax system.
For international taxation, the 2026 Tax Law Amendment Proposal incorporates the OECD’s Side-by-Side (“SbS”) Package for global minimum tax into domestic law.
This legal update summarizes the key proposed amendments relating to international taxation or otherwise affecting multinational enterprise (“MNE”) groups with investments and/or operations in Korea. The proposed amendments will be submitted to the National Assembly as a government bill in September 2026. If approved by the National Assembly, most of the proposed amendments will take effect from January 1, 2027.
For more details, please refer to the full report attached below.
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