Wbring the World to Korea, and take Korea to the World.

HOME Our Services Taxation & Accounting

Taxation & accounting

To successfully compete today, keeping proper accounting, tax and compliance records is essential.

Business success in a foreign country often depends on how one deals with local tax policies. In Korea, government provides certain tax privileges to foreigners to attract investment and businesses. For example, a foreign professional may choose the flat tax rate for his or her personal income. Also, foreign investors qualified for certain business types and/or minimum investment amount can enjoy generous tax credits in Free Economic Zones(FEZ), Free Investment Zones(FIZ), Free Trade Zones(FTZ) and special industrial complexes. For more customized tax and accounting related information, download our brochure at the bottom of this page or refer to our Insights section. You can also contact us directly.

We provide Taxation & Accounting administrative services. The following is the list of services provided upon request.

Book-Keeping Every corporation is obligated to prepare a financial statement. Every corporation is subject to keep its account with double-entry bookkeeping. Monthly, Quarterly
VAT Filing Value Added Tax (VAT) is a tax that is reported and paid for added value acquired in the process of providing goods and services and importing goods. The two taxable periods of VAT shall be from January 1 to June 30 and from July 1 to December 31. However, due to the preliminary reporting period, there is a duty to report quarterly. Quarterly
Corporate Tax Filing Corporate tax is an income tax imposed on corporations. Incorporated associations and foundations, including for-profit and non-profit corporations, are taxed like general corporations. Within three months from the end month of the business' fical year, the tax base and the amount of corporate tax on the income for that business year shall be reported to the head of the relevant tax office having jurisdiction. Yearly
Payroll
(Wage and Salary Income Tax)
The worker who is paid for providing work is a taxpayer, and the relevant tax (payment, bonus) is calculated and reported according to the simplified tax table. Each month, the company withholding tax pays income tax. In February of the following year, the year-end settlement finalizes the income tax to be paid by the worker in the previous year and settles the withheld tax amount. The income tax should be reported by the 10th day of the month following the month in which wage and salary is paid. Monthly
Tax-Inovoice Issuance When a business supplies goods or services, an invoice (hereinafter referred to as “tax invoice”) should be issued for the person who receives the goods or service. Businesses are obliged to issue electronic tax invoices, which can be issued through the website of the National Tax Service. Everytime sales are accured. Monthly
Online Banking Payment Online banking allows companies to conduct financial transactions via the Internet. e.g. salary payment, national insurance fees, witholding tax, rent payment etc. On demand Monthly

Thank you for your interest in Pearson.

TYPE
Incorporation Visa Taxation & Accounting Recruitment Finding Partners Living in Korea Others