Korea — Annual tax law revisions |
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Background
Several tax law revisions effective for the 2012 tax year were approved by Korea’s National Assembly in late December 2011. Changes which may interest expatriates and employers include:
- The introduction of a new upper tax bracket for high income earners,
- An extension to the tax exemption for qualified foreign technicians/engineers, and
- Changes to late payment interest charges on withholding tax payments.
