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CPA

It's time to get ready for the 2nd VAT return filing. January is the month for Value added tax filing for business owner. Let's check the baisc due dates of this tax and extended due dates for this filing. 1. VAT Filing Differences for Individual vs. Corporate Businesses The VAT filing periods differ for individual and corporate businesses in Korea. Corporate businesses are generally required to file VAT returns quarterly, while individual business.. 더보기
How Companies Share Their Earnings with Shareholders in Korea: The Dividend Process When company made money through business, it's nautal for company to think dividend which is share the money company made to each shareholders. Today, let's delve into how company can do dividend in Korea 1. When Can a Corporation Pay Dividends?1)Regular dividendA regular dividend typically occurs within three months after the end of the business period. For example, if the business period runs .. 더보기
What’s the Difference? Tax Invoice vs. Regular Invoice An invoice is a crucial document for businesses. It is a formal record issued by a seller to a buyer, detailing the goods or services provided and the corresponding payment amount. Companies send invoices to inform clients about the services rendered and their associated fees.An invoice typically includes: Buyer's and seller's information, Dates ,Description of goods or services provided,Amounts.. 더보기
November Tax schedule in Korea 1.Withholding tax filing(11/11)When you pay your employees a salary, it is your responsibility to deduct taxes from their salary before paying them.*For example, if your employee has a contracted salary of 2,500,000 KRW, you must deduct 35,600 KRW for taxes, and pay your employee 2,464,400 KRW. The 35,600 KRW you deducted must be reported on a withhold tax return and paid to the tax office on be.. 더보기
Donations can cut your company tax. A donation, in tax terms, refers to giving money or goods to entities that are unrelated to a company's business. Companies often make donations as a way to share their profits with society, helping to create a more livable community.Naturally, there are tax benefits for these donations, as governments encourage companies to contribute to the public good.However, to prevent misuse of the tax ben.. 더보기
October Tax schedule in Korea 2024 1.Withholding tax filing(~10/10)When you pay your employees a salary, it is your responsibility to deduct taxes from their salary before paying them.*For example, if your employee has a contracted salary of 2,500,000 KRW, you must deduct 35,600 KRW for taxes, and pay your employee 2,464,400 KRW. The 35,600 KRW you deducted must be reported on a withhold tax return and paid to the tax office on b.. 더보기
[Corporation set up] How foreigners enter the domestic business in Korea? - 2 (Difference between 'Stock company' and 'Limited company) After you decided what kinds of business entity in Korea, If you decided to choose local corporation, the second decision you need to make is choosing the type of company.There are five types of companies in Korea: 1)Partnership Company, 2)Limited Partnership Company, 3)Limited Liability Company, 4)Stock Company, and 5)Limited Company. However, Stock Companies and Limited Companies are the most .. 더보기
September Tax schedule 1.Withholding tax filing(~9/10)When you pay your employees a salary, it is your responsibility to deduct taxes from their salary before paying them.*For example, if your employee has a contracted salary of 2,500,000 KRW, you must deduct 35,600 KRW for taxes, and pay your employee 2,464,400 KRW. The 35,600 KRW you deducted must be reported on a withhold tax return and paid to the tax office on be.. 더보기

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