2017韩国商税指南（英文版）

报告摘要

Summary of Deloitte. Taxation and Investment in Korea 2017

Core Content Overview

This document provides an overview of the investment and taxation environment in South Korea, covering business environment, foreign investment regulations, tax incentives, exchange controls, and various aspects of business and individual taxation, as well as labor and accounting requirements. It is intended to serve as a guide for foreign investors and businesses operating in or with interests in Korea.

1.0 Investment Climate

1.1 Business Environment

South Korea is a constitutional democracy with a president elected directly for a five-year term.
The government is composed of the President, Prime Minister, and the National Assembly.
The economy is export-driven and heavily dependent on imported raw materials and capital goods.
Korea is a member of the OECD and has made progress in liberalizing its foreign exchange regime.

1.2 Currency

The official currency is the Korean Won (KRW).

1.3 Banking and Financing

The financial sector is regulated by the Financial Services Commission (FSC).
The Korea Exchange is a world-class securities market.
The Bank of Korea is the central bank, and Seoul is the financial center.
Korea has aligned its intellectual property laws with the WTO's TRIPS Agreement.

1.4 Foreign Investment

Foreign investment is allowed in most sectors, though some require local joint ventures.
Investment zones, such as free economic zones and free trade zones, offer incentives.
The Foreign Investment Promotion Act (FIPA) governs foreign investment, offering tax incentives and simplifying the process.
Invest Korea provides one-stop services with project managers for foreign investors.
To qualify as a foreign investment company, a minimum investment of KRW 100 million and ownership of at least 10% of shares is required.

1.5 Tax Incentives

Tax incentives are available for companies in high-tech sectors or located in investment zones.
These include tax exemptions, deductions, and long-term land leases.
The Tax Incentive Limitation Law (TILL) outlines these incentives.
The TILL was revised in 2017 to increase tax credits for job creation and conversion of temporary employees to permanent status:
- SMEs: Increased tax credit rates from 4%-6% to 6%-8%.
- Medium-scale companies: Increased from 4%-6% to 5%-7%.
- Large companies: Increased from 2%-3% to 3%-4%.
- Tax credit per employee: SMEs KRW 10 million, medium-scale companies KRW 7 million, large companies KRW 3 million.

1.6 Exchange Controls

The Ministry of Strategy and Finance (MOSF) and the Bank of Korea manage the foreign exchange system.
Most foreign direct and portfolio investments are liberalized, but offshore KRW transactions remain restricted.
Reporting requirements exist for foreign loans exceeding certain thresholds.
Capital and profits can be repatriated freely if approved, but forex banks must verify transaction legitimacy.

2.0 Setting Up a Business

2.1 Principal Forms of Business Entity

Common forms: Joint Stock Company (JSC), Limited Liability Company (LLC), and Branches.
JSCs are the most commonly used, allowing for various investment securities and no shareholder limits.
LLCs (Yuhan Hoesa and Yuhan Chaekim Hoesa) have different requirements for capital, contributions, and directorship.

2.2 Regulation of Business

Mergers and acquisitions are subject to reporting requirements under the FIPA.
The 5% rule requires reporting of share acquisitions over 5% and subsequent increases of 1%.
Tax-free mergers require specific conditions, including a minimum stock value ratio of 80% and continuation of business operations.
Monopolies and market dominance are regulated by the Monopoly Regulation and Fair Trade Act (MRFTA), which includes restrictions on anti-competitive behavior and imposes penalties for violations.

2.3 Accounting, Filing, and Auditing Requirements

Financial statements and business reports are required annually.
Listed companies and corporations with assets of KRW 12 billion or more must be audited annually.
Consolidated financial statements are mandatory.
Companies may choose between K-IFRS and K-GAAP for financial accounting.
Tax laws have been adjusted to reflect the adoption of K-IFRS.

3.0 Business Taxation

3.1 Overview

Korea imposes both national and local taxes, including corporate income tax, surtax, minimum tax, VAT, and others.
Taxation is administered by the National Tax Service (NTS).

3.2 Residence

A company is considered a resident if its headquarters or effective management is in Korea.
Foreign corporations with a permanent establishment (PE) in Korea are taxed on Korea-source income.

3.3 Taxable Income and Rates

Resident companies are taxed on worldwide income.
Corporate income tax rates are progressive:
- 10% on the first KRW 200 million.
- 20% on KRW 200 million to KRW 20 billion.
- 22% on income exceeding KRW 20 billion.
Local income surtax is applied on top of corporate income tax.
Minimum tax applies at different rates depending on the level of taxable income.
SMEs benefit from a four-year grace period with reduced rates.

3.4 Capital Gains Taxation

Capital gains are taxed at progressive rates (10%-22% for residents).
Nonresidents may be taxed at 11% of proceeds or 22% of gain, whichever is lower, plus a 10% local income surtax.

3.5 Double Taxation Relief

Available through tax treaties and the Law for the Coordination of International Tax Affairs (LCITA).

3.6 Anti-Avoidance Rules

Transfer pricing, thin capitalization, and controlled foreign company rules are in place.

4.0 Withholding Taxes

Withholding tax rates vary depending on the type of income:
- Dividends: 20% (plus surtax).
- Interest: 14%-20% (plus surtax).
- Royalties: 20% (plus surtax).
- Technical service fees: 20% (plus surtax).
- Branch remittance tax: May apply at 5%-15% depending on tax treaties.
Liaison offices are not taxable but must file withholding tax returns for salary income.

5.0 Indirect Taxes

Includes Value Added Tax (VAT) at 10%, capital tax, real estate tax, transfer tax, stamp duty, customs and excise duties, and environmental taxes.
Specific rates and conditions apply for each type.

6.0 Taxes on Individuals

Includes residence rules, taxable income, inheritance and gift tax, net wealth tax, real property tax, and social security contributions.
Compliance is required for all types of taxes, with varying rates and conditions.