Corporate Tax Act

법인세법

Act · 재정경제부 · English text effective 2025-03-14 · Korean current 2026-07-01

Articles

• CHAPTER I GENERAL PROVISIONS
• Article 1 Purpose
• Article 2 Definition
• Article 3 Taxpayer
• Article 4 Scope of taxable income
• Article 5 Trust income
• Article 6 Business year
• Article 7 Change of business year
• Article 8 Constructive business years
• Article 9 Place of tax payment
• Article 10 Designation of place for tax payment
• Article 11 Alteration of place of tax payment
• Article 12 Jurisdiction of taxation
• CHAPTER II CORPORATE TAX ON INCOME OF DOMESTIC CORPORATION FOR EACH BUSINESS YEAR
• SECTION 1 Tax Base and Calculation Thereof
• Sub-Section 1 Common Provisions
• Article 13 Tax base
• Article 14 Income for each business year
• Sub-Section 2 Calculation of Gross Income
• Article 15 Scope of gross income
• Article 16 Constructive dividends or distributions
• Article 17 Non-inclusion of gains from capital transactions in gross income
• Article 18 Non-inclusion of evaluation profits in gross income
• Article 18-2 Non-inclusion of domestic corporations' dividend income in gross income
• Article 18-3 null
• Article 18-4 Non-inclusion of dividend income of foreign subsidiaries in gross income
• Sub-Section 3 Calculation of Deductible Expenses
• Article 19 Scope of deductible expenses
• Article 19-2 Non-inclusion of bad debts in deductible expenses
• Article 20 Non-inclusion of losses from capital transactions in deductible expenses
• Article 21 Non-inclusion of taxes and public charges in deductible expenses
• Article 21-2 Non-inclusion of punitive damages in deductible expenses
• Article 22 Non-inclusion of losses from evaluation of assets in deductible expenses
• Article 23 Non-inclusion of depreciation costs in deductible expenses
• Article 24 Non-inclusion of donations in deductible expenses
• Article 25 Non-inclusion of business promotion expenses in deductible expenses
• Article 26 Non-inclusion of excessive expenses in deductible expenses
• Article 27 Non-inclusion of non-business expenses in deductible expenses
• Article 27-2 Special cases, including exclusion of expenses incurred in relation to passenger vehicles for business use from deductible expenses
• Article 28 Non-inclusion of interest expenses in deductible expenses
• Sub-Section 4 Inclusion of Reserve Funds and Appropriation Funds in Deductible Expenses
• Article 29 Inclusion of reserve funds for proper purpose business in deductible expenses for non-profit domestic corporation
• Article 30 Inclusion of liability reserve funds in deductible expenses
• Article 31 Inclusion of contingency reserve funds in deductible expenses
• Article 32 Inclusion of surrender value reserve fund in deductible expenses
• Article 33 Inclusion of retirement benefit appropriation funds in deductible expenses
• Article 34 Inclusion of allowances for bad debts in deductible expenses
• Article 35 Inclusion of allowances to redeem claims for indemnity in deductible expenses
• Article 36 Inclusion of value of business assets acquired with national subsidies in deductible expenses
• Article 37 Inclusion of value of business assets acquired with construction charges in deductible expenses
• Article 38 Inclusion of value of assets acquired with insurance marginal profits in deductible expenses
• Article 39 null
• Sub-Section 5 Periods during Which Gross Income and Deductible Expenses Accrue
• Article 40 Business year in which gross income and deductible expenses accrue
• Article 41 Acquisition value of assets
• Article 42 Evaluation of assets and liabilities
• Article 42-2 Non-inclusion in gross income of evaluation marginal profits of inventory assets of domestic corporation that applies K-IFRS
• Article 42-3 Special cases concerning calculation of income for insurance company applying Korean International Financial Reporting Standards
• Article 43 Application of corporate accounting standards and practices
• Sub-Section 6 Special Cases concerning Mergers and Divisions
• Article 44 Taxation on merged corporation upon merger
• Article 44-2 Taxation on surviving corporation upon merger
• Article 44-3 Special provisions concerning taxation on surviving corporation upon qualified merger
• Article 45 Restriction on deduction of losses carried forward upon merger
• Article 46 Taxation on divided corporations upon division
• Article 46-2 Taxation on corporations established through division upon unqualified division
• Article 46-3 Special provisions concerning Taxation on corporation established through division upon qualified division
• Article 46-4 Restriction on deduction of losses carried forward upon division
• Article 46-5 Special provisions concerning taxation on divided corporations surviving division
• Article 47 Special provisions concerning taxation on divided corporation upon split-off
• Article 47-2 Special provisions concerning taxation upon investment in kind
• Article 48 null
• Article 48-2 null
• Article 49 null
• Article 50 Inclusion of amount equivalent to transfer marginal profits of assets due to exchange in deductible expenses
• Article 50-2 Restriction on deduction of losses carried over in case of business acquisition
• Sub-Section 7 Tax Exemptions and Income Deductions
• Article 51 Non-taxable income
• Article 51-2 Income deductions for special purpose companies
• Sub-Section 8 Special Cases concerning Calculation of Amounts of Income
• Article 52 Disaffirmation of calculation by wrongful acts
• Article 53 Special cases concerning calculation of amount of income from transactions with foreign corporations
• Article 53-2 Special cases concerning calculation of tax bases for corporations adopting functional currencies
• Article 53-3 Special cases concerning calculation of tax dases for overseas place of business
• Article 54 Detailed regulations for calculation of amount of income
• SECTION 2 Calculation of Tax
• Article 55 Tax rate
• Article 55-2 Special provisions concerning taxation on capital gains on transfer of land
• Article 56 null
• Article 57 Foreign tax credits
• Article 57-2 Special cases concerning refund of foreign tax credits for income received from indirect investment companies
• Article 58 Tax credits for losses from disasters
• Article 58-2 null
• Article 58-3 Tax credits upon correction of wrongful accounting
• Article 59 Calculation of amount of tax reductions/exemptions or tax credits
• SECTION 3 Reports and Payment
• Article 60 Filing reports on tax bases
• Article 60-2 Submission of certificate of confirmation of compliant filing
• Article 61 Special cases concerning inclusion of reserve funds in deductible expenses
• Article 62 Special cases concerning filing interest income of non-profit domestic corporations
• Article 62-2 Special provisions concerning filing capital gains on transfer of assets by non-profit domestic corporations
• Article 63 Obligation of interim prepayment
• Article 63-2 Calculation of interim tax
• Article 64 Payment
• Article 65 null
• SECTION 4 Determination, Correction, and Collection
• Sub-Section 1 Determination and Correction of Tax Bases
• Article 66 Determination and correction
• Article 67 Disposal of income
• Article 68 Special cases concerning calculation of tax bases and amount by estimation
• Article 69 Determination of occasional imposition
• Article 70 Notification of tax base and tax amount
• Sub-Section 2 Collection and Refund of Tax
• Article 71 Collection and refund
• Article 72 Refund by retroactive deduction of losses for small and medium enterprises
• Article 72-2 null
• Article 73 Withholding on the amount of interest income of domestic corporations
• Article 73-2 Withholding on the amount of interest on interest accruing during the holding period of the bonds
• Article 74 Issuance of withholding receipts
• Article 74-2 Penalty tax on begligence in submitting detailed statement of expenses related to passenger vehicles for business use
• Article 75 Penalty tax on negligence in submitting certificate of confirmation on compliant filing
• Article 75-2 Penalty tax on negligence in submitting detailed statement of shareholders
• Article 75-3 Penalty tax on negligence in recording and keeping account books
• Article 75-4 Penalty tax on negligence in issuing, preparing and keeping donation receipts
• Article 75-5 Penalty tax on negligence in receiving evidentiary documents
• Article 75-6 Penalty tax on negligence in issuing credit cards and cash receipts
• Article 75-7 Penalty tax on negligence in submitting payment statements
• Article 75-8 Penalty tax on negligence in submitting invoice
• Article 75-9 Penalty tax on negligence in submitting statement of retained earnings of specific foreign corporation
• CHAPTER II-2 SPECIAL CASES CONCERNING CORPORATE TAXATION ON INCOME FOR EACH BUSINESS YEAR OF CORPORATE TAXABLE TRUST PROPERTY
• SECTION 1 Common Provisions
• Article 75-10 Application relationship
• Article 75-11 Application of corporate taxation method to trust property
• Article 75-12 Establishment, dissolution of corporate taxable trust property
• Article 75-13 Application to corporate taxable trust property with co-trustees
• SECTION 2 Tax Base and Computation Thereof
• Article 75-14 Income deduction for corporate taxable trust property
• Article 75-15 Merger and division of trusts
• Article 75-16 Calculation of income of corporate taxable trust property
• SECTION 3 Report, Payment and Collection
• Article 75-17 Reporting and payment of corporate taxable trust property
• Article 75-18 Withholding taxes on corporate taxable trust property
• Article 76 null
• Article 76-2 null
• Article 76-3 null
• Article 76-4 null
• Article 76-5 null
• Article 76-6 null
• Article 76-7 null
• CHAPTER II-3 CORPORATE TAX ON INCOME OF EACH CONSOLIDATED BUSINESS YEAR
• SECTION 1 Common Provisions
• Article 76-8 Application of consolidated tax return system
• Article 76-9 Revocation of approval for applying consolidated tax return system
• Article 76-10 Abandonment of consolidated tax return system
• Article 76-11 Addition of consolidated subsidiary corporations
• Article 76-12 Exclusion of consolidated subsidiary corporations
• SECTION 2 Tax Base and Computation Thereof
• Article 76-13 Consolidated tax base
• Article 76-14 Income for each consolidated business year
• SECTION 3 Computation of Amount of Tax
• Article 76-15 Calculated consolidation tax amount
• Article 76-16 Tax reductions or exemptions and tax credits of consolidated corporations
• SECTION 4 Tax Return and Payment
• Article 76-17 Filing reports on consolidated tax base
• Article 76-18 Consolidated interim prepayment
• Article 76-19 Payment and settlement of consolidated corporate Tax
• SECTION 5 Determination, Correction, and Collection
• Article 76-20 Determination, correction, and collection of consolidated corporate Tax
• Article 76-21 Additional tax of consolidated corporations
• Article 76-22 Application of regulations related to small and medium enterprises to consolidated corporations
• CHAPTER III CORPORATE TAX ON LIQUIDATION INCOME OF DOMESTIC CORPORATIONS
• SECTION 1 Tax Base and Calculation Thereof
• Article 77 Tax base
• Article 78 Special provisions on taxation on liquidation income accruing from restructuring of corporation
• Article 79 Calculation of liquidation income accruing from dissolution
• Article 80 null
• Article 81 null
• Article 82 Detailed rules for calculation of amount of liquidation income
• SECTION 2 Calculation of Tax
• Article 83 Tax rate
• SECTION 3 Reports and Payment
• Article 84 Final reports
• Article 85 Interim reports
• Article 86 Payment
• SECTION 4 Determination, Correction, and Collection
• Article 87 Determination and correction
• Article 88 Notification of tax base and tax amount
• Article 89 Collection
• Article 90 Exclusion from application of additional taxes for delayed payment? to liquidation income
• CHAPTER IV CORPORATE TAX ON INCOME OF FOREIGN CORPORATIONS FOR EACH BUSINESS YEAR
• SECTION 1 Common Provisions on Taxation of Foreign Corporations
• Article 91 Tax base
• Article 92 Calculation of amount of domestic source income
• Article 93 Domestic source income of foreign corporations
• Article 93-2 Special case concerning real beneficiary for foreign investment scheme
• Article 93-3 Special cases concerning taxation on interest and capital gains on state bonds of foreign corporations
• Article 94 Domestic place of business of foreign corporation
• Article 94-2 Submission of data on liaison offices of foreign corporations
• SECTION 2 Calculation of Tax
• Article 95 Tax rate
• Article 95-2 Special cases concerning taxation on capital gains on transfer of land, etc. by foreign corporation
• Article 96 Special provisions on taxation on domestic place of business of foreign corporation
• SECTION 3 Reports, Payments, Settlements, Corrections, and Collection
• Article 97 Report, payment, determination, correction, and collection
• Article 98 Special cases concerning withholding or collection from foreign corporations
• Article 98-2 Special cases concerning reports on, payment of capital gains on transfer of securities by foreign corporation
• Article 98-3 Special cases concerning withholding from bonds, etc. subject to withholding tax of foreign corporations
• Article 98-4 Applying for non-taxation or tax exemption for foreign corporations under tax treaties
• Article 98-5 Special case concerning withholding procedures for foreign corporations in specific places
• Article 98-6 Special cases concerning withholding procedures to apply restrictive tax rates under tax treaties to foreign corporations
• Article 98-7 Special cases concerning application of tax rates to interest, dividends and royalties
• Article 98-8 Special cases concerning withholding tax on domestic source income received through foreigner consolidated account
• Article 99 Special cases concerning reports on and payment of corporate tax on domestic source income of foreign corporation from personal services
• CHAPTER V Deleted.
• SECTION 1 Deleted.
• Article 100 null
• SECTION 2 Deleted.
• Article 101 null
• SECTION 3 Deleted.
• Article 102 null
• Article 103 null
• Article 104 null
• SECTION 4 Deleted
• Article 105 null
• Article 106 null
• Article 107 null
• Article 108 null
• CHAPTER VI SUPPLEMENTARY PROVISIONS
• Article 109 Reports on incorporation or establishment of corporation
• Article 109-2 Report on change of trustee of corporate taxable trust property
• Article 110 Reports on start of profit-making business by non-profit corporation
• Article 111 Business registrations
• Article 112 Keeping account books and making an entry in books
• Article 112-2 Obligation to prepare and keep detailed statements of donation receipts issued
• Article 113 Separate accounting
• Article 114 null
• Article 115 null
• Article 116 Receipt and keeping of evidentiary documents of expenditures
• Article 117 Obligation to become credit card merchants and to issue credit card sales slips
• Article 117-2 Obligation to become cash receipt merchants and to issue cash receipts
• Article 118 Preparation and keeping of stockholder register
• Article 119 Submission of detailed statement of changes in stocks
• Article 120 Obligation to file payment statements
• Article 120-2 Special cases concerning obligation to file payment statements on domestic source income of foreign corporations
• Article 120-3 Submission of aggregate tax invoices for individual suppliers
• Article 120-4 Submission of virtual asset transaction details
• Article 121 Preparation and issuance of invoices
• Article 121-2 Purchaser-issued invoice
• Article 121-3 null
• Article 121-4 null
• Article 122 Inquiry and inspection
• Article 122-2 Request for computerized registration data
• CHAPTER VII PENTALTY PROVISIONS
• Article 123 null
• Article 124 Administrative fines for non-compliance with order

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