Tag: South Korea
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Article 11-2 of the Law for Coordination of International Tax Affairs (LCITA) in Korea
Article 11-2 of the Law for Coordination of International Tax Affairs (LCITA) in Korea is a specific provision within the broader framework of the LCITA, which is designed to prevent double taxation and tax avoidance, and to facilitate international cooperation in tax matters. The LCITA is the principal legislative basis for Korea’s transfer pricing, international tax…
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Country-by-Country Reporting (CbCR) in South Korea
South Korea has fully implemented the OECD’s BEPS Action 13 recommendations, including Country-by-Country Reporting (CbCR), through its domestic legislation. The CbCR obligations form a part of the broader transfer pricing documentation requirements and are intended to enhance transparency in the operations of multinational enterprise (MNE) groups. This guide outlines South Korea’s CbCR requirements, including thresholds,…
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How CbC reporting is presented in South Korea
South Korea is a leading economy in the Asia-Pacific region, with a highly skilled workforce and a robust business environment. To promote transparency and prevent tax avoidance by multinational corporations (MNCs), the South Korean government has implemented Country-by-Country (CbC) Reporting requirements. In this blog post, we will provide an overview of the CbC Reporting process…
CbC Reporting 