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Recently, tax and accounting regulations in Korea have gone through various changes. Under ever-changing business circumstances, extensive experience and in-depth knowledge of accounting, tax laws as well as other business regulations are required to perform and deliver an effective tax health-check.
Our professionals are experienced in relevant technical subjects, working with the tax authorities and consulting to companies of all sizes.
We can conduct a high level analysis of a company to provide advice on how to minimize potential tax risk from possible noncompliance as a result of the recent changes in the laws and regulations.
Our tax health-check services include:
- Identify issues through understanding of management activities and industry-specific issues.
- Assess accurate classification and tax treatment.
- Perform a comprehensive review and analysis of major accounts and transactions.
- Provide In-depth review of issue-specific laws and regulations and quantification of potential tax effect.
- Develop appropriate solutions to minimize possible tax exposures and risks.
- Assist with requests for rulings or interpretations by tax authorities on issues in question or dispute to minimize risks of uncertain tax liabilities from a possible challenge by the tax authorities.
- Perform a comprehensive review of tax reconciliation to ensure all opportunities to reduce tax liability or to obtain refund of overpaid tax have been explored.
- Identify areas where tax exemptions or reductions may be utilized to reduce future tax liability.