In examining and determining the assessment of national tax base, standards or practices of corporate accounting which the person liable to pay taxes adopts continuously and are generally recognized as reasonable and proper, shall be respected: Provided, That the same shall not apply to cases specifically provided for in other tax-related statutes.[This Article Wholly Amended on Jan. 1, 2010]
Laws › Framework Act on National Taxes › SECTION 2 Principles for Application of Tax-Related Statutes
Framework Act on National Taxes — Article 20 (Respect for Corporate Accounting)
국세기본법 제20조
This English translation is based on the Korean text effective 2024-01-01. The Korean law has since been amended (current version effective 2026-10-02) — check the Korean original.
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