More guided information on some tax issues
NTS's activities and measures, collectively put as "tax audit" in the reports, are just conventional and normal operational activities of the NTS as tax authorities of any country would undertake as part of their business as usual. The main misleading points are the following.
Keeping taxpayers' information up-to-date
In case where a duly registered company has suspended or discontinued its business operation, and/or in case where there has been any change in investor(s) details such as shareholder structure and nationality of the investor(s) concerned from the time of the submission of application for investment in Korea, such changes need to be duly maintained with NTS.
It facilitates the NTS to keep up with the latest basic information on the company concerned as well as to provide it with tailored services.
The same procedure applies indiscriminately to all registered businesses in Korea regardless of the nationality of the investors concerned.
Conducting fact-finding on liaison offices of foreign companies
Although liaison offices of foreign companies are not subject to corporation tax in Korea, they are required to withhold taxes from compensations paid to their employees. Therefore, NTS conducts simple fact-finding on such liaison offices with a view to confirming whether or not they are in full compliance with such withholding obligation.
Verifying information on commercial performances by foreign entertainers in Korea
With regards to the captioned performances, NTS verifies whether or not the taxes have been withheld appropriately, with reference to the information submitted under the Taxation-Related Information Submission and Control Act
The above explanations will serve as the sufficient source of clarification of the misleading reports on taxpayers' information, fact-finding, and information verification.
이 보도자료는 Ministry of Strategy and Finance가(이) 작성해 뉴스와이어 서비스를 통해 배포한 뉴스입니다.
-
2008년 10월 6일 16:30
-
2008년 8월 6일 17:21