Korea

    Corporate taxation

    The CIT in Korea is

    2013 24.20%
    2014 24.20%
    2015 24.20%
    2016 24.20%
    2017 22.00%
    2018 25.00%
    2019 25.00%

    Corporate tax rates are progressive over three tax brackets and a local surtax of 10% of corporate income tax due is also imposed.

      Transfer pricing

      The Korean transfer pricing regulations are based on the arm’s-length standard and are generally consistent with the Organisation for Economic Co-operation and Development (OECD) Guidelines. The Korean transfer pricing regulations are contained in the Law for the Coordination of International Tax Affairs (LCITA), which was enacted on 1 January 1996. The LCITA stipulates that transfer prices should be consistent with the arm’s-length standard.

      Transfer Pricing Case Law

      Case NameDescriptionDateCourtKeywords