Operating a multi-national or off-shore corporation requires extensive knowledge of local laws and regulations. This is particularly important when dealing with financial matters, such as tax and foreign exchange regulatory matters.
Having a complete understanding of taxation laws will not only ensure that you are operating within regulatory requirements but also allows for smart planning, facilitating increased opportunities for growth and development.
Tax can be confusing at the best of times, not least of all when you are operating in an overseas territory. Fortunately, Calibre Business Advisory is here to assist. If you are looking to expand your operations into Seoul, our tax advisors and accountants in Korea possess both technical knowledge and excellent communication skills to assist across a wide range of tax related areas.
Calibre Advisory Seoul’s tax and accounting services are wide-ranging and include:
Inbound/outbound tax planning and structuring
Like all local business entities in Korea, foreign invested enterprises are required to comply with Korean tax laws and regulations and pay income tax, local income tax withholding tax and VAT. Also, a foreign investor should bear in mind that withholding taxes are imposed on dividend distributions, interests and royalties to non-resident entities abroad.
Our tax advisors will analyse the optimum business entity type for your investment and business in Korea and provide advice on a tax efficient plan and structure.
Navigating these requirements can be difficult and requires in-depth knowledge of taxation laws across multiple countries. Calibre Advisory Seoul’s team of tax professionals understand the challenges faced by multi-national businesses and have experience negotiating all types of taxation requirements.
Likewise, Korea companies should analyse their tax implications and positions when making investments abroad. In this regard, our tax advisors in Sydney can advise you on tax implications on your investments and businesses in Australia. In addition to outbound tax planning, Korean companies must ensure that they fully comply with the relevant foreign exchange laws and regulations for making investments abroad. Our advisors in Korea can assist you in complying with such requirements.
Tax audit solutions
Tax authorities may conduct a tax audit of your business for many reasons, and the audit itself can range from a simple request for additional information to a full-scale investigation.
The best way to respond to an audit is through thorough documentation, outlining all financial aspects of your company. This includes everything from cash-flow to investments and assets. Calibre Advisory Seoul has extensive experience working with Korea’s tax and regulatory system and in the case of an audit, can assist your business navigate and meet your obligations.
Tax controversy and dispute resolution
In a field as complex as taxation, disputes are prone to occur. Resolving these disputes — whether they be with the National Tax Service or district tax office — can be a costly undertaking, with the potential to evolve into litigation proceedings.
Calibre Advisory Seoul’s team of tax experts have experience navigating controversy and dispute to arrive at a resolution that is beneficial for your company.
Our English-speaking advisors and accountants in Korea possess the knowledge, skills, and technical expertise to help your business meet their tax and regulatory requirements. If you are currently conducting business in Seoul or are looking to expand your operations off-shore, contact Calibre Business Advisory today to discover how we can assist you.