- Employees that are not related parties to their employers. An exception applies to companies that are authorized to receive tax incentives; and
- Employees for, only, a 5-year period.
Not happy news for many foreigners in Korea.
Sean Hayes may be contacted at: SeanHayes@ipglegal.com.
Sean Hayes is co-chair of the Korea Practice Team at IPG Legal. He is the first non-Korean attorney to have worked for the Korean court system (Constitutional Court of Korea) and one of the first non-Koreans to be a regular member of a Korean law faculty. He has, recently, been ranked as one of only two non-Korean attorneys as a Top Attorney working in Korea by AsiaLaw.
- 17 Percent Flat Tax for Foreign Nationals Residing in Korea: Korean Tax Amendments for 2013
- Tax Incentives May Decrease for Foreign Companies doing Business in Korea: Tax Law Updates
- Korean National Tax Service Tax Law News Release to Foreign Corporate Taxpayers: Korean Tax Law Updates
- Korean Tax Risk of Foreign Corporation Deemed “Actual Business Management Locale” within Korea: Korea Tax Law Basics
- Foreign Account Tax Compliance Act (FACTA) in Korea
- Korean Tax Laws on Entertainment Companies in Korea: Overseas Tax Deductions