Korea, South News

EU Tax Blacklist To Be Slimmed By Nine
by Ulrika Lomas, Tax-News.com, Brussels
Monday, January 22, 2018
At its meeting on January 22, the EU Council is to remove Barbados, Grenada, South Korea, Macao, Mongolia, Panama, Tunisia, and the United Arab Emirates from the EU's list of non-cooperative jurisdictions in taxation matters, according to an agenda released prior to the meeting. Read Full Story

Korea Legislates For BEPS 5 Minimum Standard
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, January 17, 2018
Among amendments announced recently to the country's tax reform plans, South Korea has legislated to exchange information received from taxpayers as part of applications for advance pricing agreements. Read Full Story

Tourists To Korea To Benefit From VAT-Free Hotel Stays
by Mary Swire, Tax-News.com, Hong Kong
Thursday, January 11, 2018
Tourists staying in Korean hotels in 2018 will generally be able to reclaim the 10 percent value-added tax on the cost of their accommodation.
Read Full Story

South Korea Sets Out This Year's Tax Policy Direction
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, January 2, 2018
The South Korean Government has indicated that it will seek to enhance certain business tax incentives in 2018 and review property taxation. Read Full Story

China Confirms Numerous Trade Duty Changes From 2018
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, December 19, 2017
China intends to implement numerous changes to its trade tariffs from January 1, 2018, to ensure domestic businesses have access to inputs and equipment and to implement changes in prior international agreements. Read Full Story

Korean FTA Helping To Boost Australian Exports
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, December 13, 2017
Australia's Trade Minister, Steven Ciobo, has hailed the success of the country's free trade agreement with Korea, which he said has boosted exports during its three years of operation. Read Full Story

EU Accused Of Tax Blacklist Hypocrisy
by Ulrika Lomas, Tax-News.com, Brussels
Monday, December 11, 2017
An umbrella body for non-governmental organizations in Finland has criticized the European Union for not including member states on its tax blacklist when several EU countries have laws in place that encourage corporate tax avoidance. Read Full Story

South Korean Budget Aims For Tax 'Fairness'
by Mary Swire, Tax-News.com, Hong Kong
Thursday, December 7, 2017
South Korea's highest-earning companies will see their tax rate rise from 22 percent to 25 percent next year, as part of President Moon Jae-In's commitment to reducing economic inequality. Read Full Story

Offshore IFCs Absent From EU's New Tax Blacklist
by Ulrika Lomas, Tax-News.com, Brussels
Tuesday, December 5, 2017
EU member states have agreed to a new EU list of non-cooperative tax jurisdictions, featuring 17 jurisdictions and notably relatively few offshore financial centers. Read Full Story

US Trade Commission Recommends Tariffs On Korean Washers
by Mike Godfrey, Tax-News.com, Washington
Tuesday, November 28, 2017
The US International Trade Commission has unanimously recommended tariffs of up to 50 percent on large washers imported from Korea. Read Full Story
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