Tax obligations of liaison office
(tax law revision)
From January 1, 2023, the foreign corporation liaison office will be required to submit a total invoice table for each purchaser.
The liaison office of a foreign company must submit a list of invoices and tax invoices to the tax authorities under the Corporate Tax Act.
Additionally, the basic information of the liaison office must be compiled and submitted to the tax authorities every year.
If these obligations are not fulfilled, the risk of permanent establishment may increase, so caution is required.
Tax obligations of liaison office
(tax law revision)
When a Korean company supplies goods or services to a liaison office, the Korean company must issue a tax invoice to the liaison office established in Korea by the foreign corporation.
(Effective from transactions supplied on July 1, 2023)
GTI's support partner in Korea
JUDONG OH
Judong is a partner supporting the Korean section of "Global Tax Inside". He was in charge of tax affairs for foreign corporations as a senior manager at one of the Big 4 accounting firms, and is now working as an international tax partner at Daseung Tax Firm.