Corporate taxation

The corporate tax rate in Korea

2013 24.20%
2014 24.20%
2015 24.20%
2016 24.20%
2017 22.00%
2018 25.00%
2019 25.00%
2020 25.00%
2021 25.00%

Corporate tax rates are progressive over three tax brackets and a local surtax of 10% of corporate income tax due is also imposed.

Transfer pricing

The Korean transfer pricing regulations are based on the arm’s-length standard and are generally consistent with the Organisation for Economic Co-operation and Development (OECD) Guidelines. The Korean transfer pricing regulations are contained in the Law for the Coordination of International Tax Affairs (LCITA), which was enacted on 1 January 1996. The LCITA stipulates that transfer prices should be consistent with the arm’s-length standard.


Transfer Pricing Case Law

Case NameDescriptionDateCountriesKeywords