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Tax Authorities to Zero in on Tax Avoidance by Multinational Companies

Tax Authorities to Zero in on Tax Avoidance by Multinational Companies

SEJONG, Dec. 13 (Korea Bizwire) – The government is introducing a new policy this month requiring multinational companies to submit integrated attribution reports, as part of a bid to tackle tax avoidance. The integrated reports submission system is in response to tax avoidance schemes employed by multinational companies such as the manipulation of transfer prices, the [...]

Korea’s High-profile Business Owners Under Investigation for Possible Tax Avoidance

Korea’s High-profile Business Owners Under Investigation for Possible Tax Avoidance

SEOUL, Sep. 22 (Korea Bizwire) – More than a dozen business owners and family members of South Korea’s top conglomerates are under investigation for their possible violation of foreign exchange transaction rules, according to the local financial industry sources knowledgeable on the issue.  South Korea’s Financial Supervisory Service (FSS) has launched a formal investigation into [...]