Tax Audit Assistance
The Tax Audit team of our Practice assists clients in all phases of tax audits including audit preparation and defense and all types of audits, including regular tax audits, special investigations, search and seizure audits, inheritance and gift tax audits and individual tax audits. The scope of our service also encompasses pre-audit diagnosis of key issues, such asmock tax audits or tax health checks, and post-audit issue rectification. Our Practice consists of a balanced mix of former tax auditors of the National Tax Service, accountants and attorneys, with extensive field audit experience.
Tax Dispute Resolution
The Tax Dispute Resolution team of our Practice is composed of attorneys (including former Supreme Court justices and High Court or District Court judges), former Tax Tribunal officials and other experienced tax professionals. We assist clients in tax appeals at the National Tax Service administrative appeal procedures, including pre-assessment and post-assessment appeals, and the Tax Tribunal. Each group assigned to a client takes into account the client’s needs and is customized to address specific issues and demands of the case by deploying an optimal mix of former judges, tax attorneys and other professionals familiar with the specific issues and individuals involved in the case.
On average, Kim & Chang assists clients in over 100 tax audits and 300 tax disputes annually.
Recent cases include:
Administrative Tax Appeals (Tax Adjudication & Review of Adequacy of Tax Imposition (“RATI”))
- Favorable Tax Tribunal judgment involving sales incentives and overseas advertising expenses.
- Favorable Tax Tribunal judgment on “share-ownership” requirements to qualify for reduced dividend withholding rates under the Korea-US Tax Treaty.
- Favorable Tax Tribunal judgment regarding substance-over-form rules in the context of offshore funds.
- Favorable Tax Tribunal decision allowing deduction of legal costs and compensatory damage payments in an overseas collusion case.
- Favorable Tax Tribunal judgment regarding the amortization of goodwill acquired in a merger.
- Favorable Tax Tribunal judgment involving inheritance and gift tax issues associated with family operated business.
- Favorable Tax Tribunal judgment regarding the treatment of retired treasury stock.
- Favorable RATI decision involving the allocation of common expenses and associated VAT invoice issuance issues.
- Favorable RATI decision involving losses carried over in a reverse merger.
“Tier 1” Ranking in All 15 Practice Areas – The Legal 500 Asia Pacific 20212021.01.14
Top Ranking in 18 Areas and 75 Individual Recognitions – Chambers Asia-Pacific 20212020.12.16
“South Korea Tax Disputes Firm of the Year” and “Asia Tax Transactions Firm of the Year” – 2020 Asia Tax Awards2020.08.26
Supreme Court Decision: “Luxembourg SICAV Is Entitled to Korea-Luxembourg Tax Treaty Benefit on Its Interest and Dividend Income”2020.01.23
Ranked Top Across the Board – The Legal 500 Asia Pacific 20202020.01.17
Top Tier in 18 Areas and 66 Individual Recognitions – Chambers Asia-Pacific 20202019.12.06