Every day – somewhere in the world – tax regulations, rules, and treaties change. Strategies that reduced taxes yesterday may not work today. New opportunities to save money could be missed – especially as you enter new markets. The talented tax staff in your organization might not have time to keep up with each nuance. Your current tax advisor may think your company is too small for personal attention – or your advisor may be too small to serve you.
Successful companies consider tax implications before they make business decisions, so they do not pay more than their legal obligation. This makes international tax compliance, consulting, and structuring a crucial element in your global strategy.
As an excellent tax advisory firm in Korea, our tax professionals who have in-depth knowledge of tax, accounting, commercial law and related regulations are providing quality tax services. Especially, we specialize in assistance in tax audit, tax appeal, M&A tax consulting, international tax advice on cross border transactions, and transfer pricing for multi-national companies. In addition, on the basis of our experiences on the various tax projects, we maintain close collaboration with governmental bodies in Korea (e.g., the National Tax Service, the Ministry of Strategy and Finance, the Tax Tribunal, etc.).
As the importance of tax is increasing more and more, we are listening to our clients’ needs and actively pursuing the solution for the clients. Our client-focused service will enhance the value of your business.
We assist multinational companies as well as domestic companies in the domestic tax area for not only tax compliance but also tax consultation, including:
- Preparation and filing of corporate tax returns and other tax returns
- Tax consultation on corporate tax, Value Added Tax (VAT), etc.
- Assistance in tax audit
- Assistance in tax appeal and tax ruling requests
- Tax diagnosis for minimizing potential tax risks
- Tax planning on corporate tax, inheritance and gift tax
- Tax consultation on M&A, business transfer, share transfer, etc.
- Tax structuring and tax due diligence
- Share valuation under the Inheritance & Gift Tax Law
As more companies are doing business globally, it is very important to understand the international tax implications of international business transactions.
We provide global clients with international tax services for both inbound and outbound business including:
- Tax consultation on cross border transactions including Permanent Establishment (PE),
withholding tax, tax treaty benefits, etc.
- Tax consultation on inbound investment including tax incentives for foreign
investment in Korea
- Tax consultation on outbound investment including foreign tax credit
- Tax consultation on M&A, business transfer and share transfer
- Filing of tax refund for foreign companies (VAT, corporate tax, etc.)
- Tax consultation on financial planning including thin cap rule
- Tax consultation on stock option plan
- International assignee solution services
- Due diligence, planning and consultation related to customs duties
As the cross-border transactions are increasing recently due to the globalization, the Korean tax authorities are shifting to more systematic and aggressive audit on transfer pricing issues.
The TP specialist team at Hanul consists of the Korean and U.S. CPAs and tax specialists who are well experienced in TP related issues. The TP specialist team will assist your company not only in identifying the TP risks, but also in proactively finding solutions to reduce the TP tax risks.
Our TP/BEPS services include:
- Preparation of TP documents upon request of the Korean tax authorities
- Preparation of TP report
- TP planning study
- TP related consultation
- TP risks analysis
- Search for comparable companies
- Assistance in Advance Pricing Agreement (APA)
- Assistance in TP audit and appeal procedure
- Service on domestic intercompany transactions
- Service on customs valuation issues
- Service on loan and royalty transactions
- Service on intra-group service fees
- Global TP service for small and medium sized Korean multinational companies
- BEPS(Local and Master Files, Country by Country Reporting) related compliance and advisory