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March 7, 2018
2018-0517

Korea promulgates Enforcement Decree for 2018 tax reform bill

Korea promulgated the revised Enforcement Decree of Korean tax laws (the 2018 Enforcement Decree) on February 13, to provide more specific guidance on the 2018 tax reform bill (the 2018 Tax Reform Bill), which was enacted on December 19, 2017. Among others, the 2018 Enforcement Decree specifies the corporate accumulated earnings tax computation methods. The 2018 Enforcement Decree also removes a revision to tighten the capital gains tax exemption qualification on a foreign corporation's transfer of listed shares.

A Global Tax Alert, attached below, provides additional details.

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