(1) Where a domestic corporation fails to file a report under Article 60, the head of the tax office having jurisdiction over the place of tax payment or the commissioner of the competent regional tax office shall determine the tax base and amount of corporate tax on the income of the domestic corporation for each business year.
(2) Where a domestic corporation that has filed a report under Article 60 falls under any of the following cases, the head of the tax office having jurisdiction over the place of tax payment or the commissioner of the competent regional tax office shall correct the tax base and amount of corporate tax on the income of the relevant corporation for each business year: <Amended on Jun. 7, 2013>
1. Where it makes any error or omission in the details of the report;
2. Where it fails to submit all or some payment statements referred to in Article 120 or 120-2, or aggregate invoices for each supplier or purchaser referred to in Article 121;
3. Where it is determined that the details of the report are unconscientious, taking into account the scope of facilities or the business conditions in any of the followings cases:(a) Where a corporation meeting the membership eligibility for a credit card merchant referred to in Article 117 (1) fails to become a credit card merchant defined in the Specialized Credit Finance Business Act (limited to a corporation; hereinafter referred to as "credit card merchant"), without good cause;(b) Where a credit card merchant refuses a transaction by credit card or issues a false credit card sales slip without good cause, in violation of Article 117 (2);(c) Where a corporation obligated to become a Cash Receipt merchant under Article 117-2 (1) or a corporation designated to become a Cash Receipt merchant under Article 46 (4) of the Value-Added Tax Act fails to become a Cash Receipt merchant under Article 126-3 of the Act on Restriction on Special Cases concerning Taxation (hereinafter referred to as "Cash Receipt merchant"), without good cause;(d) Where a Cash Receipt merchant refuses to issue a Cash Receipt without good cause or issues a false Cash Receipt;
4. Deleted. <Dec. 20, 2016>
(3) The head of the tax office having jurisdiction over the place of tax payment or the commissioner of the competent regional tax office shall determine or correct the tax base and amount of corporate tax under paragraphs (1) and (2) based on the account books or other evidentiary documents; provided, he or she may estimate such base and amount of corporate tax, as prescribed by Presidential Decree, where the amount of income cannot be calculated based on the account books or other evidentiary documents on the grounds prescribed by Presidential Decree.
(4) Where any error or omission is found after the head of the tax office having jurisdiction over the place of tax payment or the commissioner of the competent regional tax office has determined or corrected the tax base and amount of corporate tax, he or she shall re-correct them immediately.[This Article Wholly Amended on Dec. 30, 2010]