We offer multifaceted international tax services that help minimize tax burden and increase net income. We ensure compliance with the most recent tax laws and provide the most efficient solution to avoid many risks inherent in international businesses.
Tax Services Inbound to the US from Korea
With overseas expansion by Korean residents into the U.S. constantly growing, clients demand service providers which has specialized skills in Korea and the U.S. We can help client identify and design efficient frame to realize your exit and entry strategies & considerations. Even If clients reside in the U.S., clients can enjoy and focus on his/her own business through our one-stop support.
How we can support you:
[Korean] Business Tax Services
We can support to file a tax return of your business income, Value Added Tax and its related Tax Advisory Services.
[Korean] Inheritance and Gift Tax Services
We can support Inheritance and Gift Tax Filing and Advisory Services and Tax advisory services for family business succession and establishment of non-profit organizations.
[Korean] Tax Audit Defense and Tax Appeal Services
We can provide Assistance on Tax Audit Defense, Tax Appeal Services (National Tax Service, Tax Tribunal, Board of Audit and Inspection) and Ruling Request Services.
[Korean] Local Tax Service
We can assist Local Tax Advisory Services (Acquisition Tax, Property Tax, etc.), Assistance on Tax Audit Defense and Tax Appeal Services.
[Korean] Global and Domestic Employer Services
We can support Tax Filing and Tax Management Services for international and domestic assignees and Global Payroll and Compensation Management.
– Report of Foreign Bank & Financial Accounts (“FBAR”)
– Foreign Account Tax Compliance Act (“FATCA”)
– Withholding taxes of foreign taxpayer
– Non-resident income tax filing
– Earnings Stripping
– Foreign Investment in Real Property Tax Act
– Foreign Tax Credit
– Controlled Foreign Corporation
– Income Tax Treaties
Tax Services Outbound to Korea from the US
With overseas investment and transaction by a U.S. citizen or permanent resident constantly growing, tax issues can inevitably arise. Without deliberate planning, investing another country may give rise to poor performance. We can minimize potential tax cost and facilitate after-tax liquidity by addressing prospective tax issues which could affect pending or future investment. Our experts provide you with solutions:
[Korean] Tax Health Check and Tax Audit Assistance
With considering total circumstance of Korea tax system, we can help you identify and solve potential tax issues. As Korean tax authorities have introduced the diverse audit skills, we can provide you with appropriate audit defense services to decrease additional tax assessment and liabilities.
[Korean] Tax Appeal and Ruling Request assistance
One of taxpayer’s most concerns is disputes against tax authorities resulting from tax assessment. We put it in a top priority to persuade tax authorities in favor of clients or win the case.
[Korean] Estate Tax
If a U.S. citizen or permanent dies leaving property in Korea, inherited properties in Korea will be subject to inheritance tax in Korea as well as in the U.S.
[Korean] Gift Tax
If a U.S. citizen or permanent as a donee receives asset in Korea from Korean resident, a donee will be subject to report and pay gift tax in Korea.
[Korean] Capital Gains Tax
If a U.S. citizen or permanent sells investment assets such as real property and stocks, you should report and pay transfer income tax in Korea and the U.S.
[Korean] Advisory Services
FDI Tax Exemption Advisory Services
[USA] Report of Foreign Bank & Financial Accounts (“FBAR”)
If you have more than $10,000 in your foreign financial account (outside the US including Korea) at any time during the year, you must complete FinCen 114 and report to the U.S. Department of the Treasury.
[USA] Foreign Account Tax Compliance Act (“FATCA”)
If you are a U.S. citizen or permanent resident living in Korea and you have more than $200,000 of foreign financial assets at the end of the year ($400,000 for MFJ) or $300,000 at any time during the year ($600,000 for MFJ), you must submit Form 8938 along with the federal tax return.