Korean Tax Blog

Do Foreign Residents Need to Report Overseas Trusts in Korea? “I live in Korea but have a family trust or other trust arrangement overseas. Do I need to report it?” Starting in 2026, Korea introduced a new reporting requirement for certain overseas trusts. This rule may also apply to foreign residents living in Korea. However, the reporting obligation depends on individual circumstances, including Korean tax residency and the nature of the overseas trust. What Is the New Over

Expansion of Mandatory Electronic Tax Invoicing in South Korea: Lower Thresholds for Compliance Korea continues to advance its electronic...

As the end of the year approaches, startups in Korea must prepare for their annual financial closing. This process is not just about...

As the year-end approaches, many startup companies prepare for their year-end financial closing. This process involves organizing and...

In South Korea, withholding tax filings are typically required on a monthly basis. However, under certain conditions, eligible businesses...

If you are residing in Korea and receiving a freelance-type salary from a foreign company without a legal entity in Korea, it may not...

If you’ve received a preliminary income tax notice (중간예납안내문) and a payment notice in Korea, it generally requires you to pay half of the...

As an expat living in Korea, understanding the local tax regulations can be a bit daunting, especially when it comes to receiving gifts...

Questions: I am writing to seek clarification regarding the inheritance tax laws in Korea, as they pertain to the estate of my late...

Maximizing VAT deductions when filing your return in Korea requires a comprehensive understanding of the VAT system and meticulous...