Tax attorney, who must pay corporate tax and by when must it be reported?

Hello. I am a tax attorney at Daeryun Law Firm (LLC).

Those obligated to pay corporate tax are domestic corporations whose head office, principal office, or place of substantial management of business is located in Korea, and they have the obligation to pay corporate tax on all income generated domestically and overseas.

On the other hand, foreign corporations whose head office or principal office is located abroad have the obligation to pay corporate tax only on domestic source income as stipulated by law among income generated in Korea.

The corporate tax filing deadline varies depending on the settlement month, and December settlement corporations must file by March 31 of the following year, March settlement corporations by June 30, June settlement corporations by September 30, and September settlement corporations by December 31.

If the filing deadline coincides with a public holiday or Saturday, it is extended to the next business day.

The tax attorney will tell you in detail about the documents to be submitted when filing.

Documents to be submitted when filing include the corporate tax tax base and tax amount declaration form, balance sheet, comprehensive income statement, statement of appropriation of retained earnings or statement of disposition of deficits, tax adjustment calculation statement and attached documents, and cash flow statement, etc.

For detailed information, please check through consultation with a tax attorney.