What should I prepare for an upcoming corporate tax investigation?

A corporate tax investigation typically begins when you receive a prior notice of tax investigation by 15 days before the investigation starts.

At this stage, it is important to confirm the period and tax items subject to investigation and to review whether to apply for postponement of the tax investigation, change of investigation location, or suspension of tax investigation.

In particular, for job-creating companies, startups, and innovative SMEs, a corporate tax investigation can be deferred if requirements are met, so prior review is necessary.

When the investigation begins, after confirming the identity of the investigating officer, you will receive an explanation of the Taxpayer's Bill of Rights, and you can receive assistance from a tax agent or tax specialist attorney.

A corporate tax investigation must be conducted within the minimum necessary scope, and if rights are infringed by illegal or excessive investigation, remedy of rights through the Taxpayer Protection Officer is also possible.

When the investigation ends, you will receive notification of the results within 20 days, and you can review the tax payment procedure or whether to apply for collection deferment.

If you have objections to the investigation results, you can also receive remedy of rights through objection procedures.

Since initial response is important in a corporate tax investigation, strategic review from the preparation stage is recommended.