Legal basis:
– Corporate Tax Act.
1. Taxable income of a domestic corporate
Corporate tax shall be imposed on the following income of a domestic corporation:
– Income for each business year;
– Liquidation income;
– Capital gains from the transfer of land,…
2. Taxable income of a non-profit domestic corporation
The income of a non-profit domestic corporation for each business year shall be limited to the income accruing from any of the following business or revenues:
– Business engaging in manufacturing, construction, wholesale, retail sales, repair of consumer products, real estate, rental, or business services;
– Interest income includes interest and the discounted value of bonds or securities issued by the State or a local government or a domestic corporation or a foreign corporation, interest on deposits received in Korea or overseas, profits made from a non-business loan,…;
– Dividend income includes dividends or shares received from any corporation, the amount treated as dividend,…;
– Revenues accruing from the transfer of stocks, preemptive right to new stocks, or investment shares;
– Revenues accruing from the disposal of fixed assets and the transfer of assets;
– Revenues accrues from continuing activities be paid.
3. Taxable income of a foreign corporation
Corporate tax shall be imposed on the following income of a foreign corporation:
– Income accrued from domestic sources for each business year;
– Capital gains from the transfer of land,…
4. Taxable income of a non-fit foreign corporation
The income accrued from domestic sources of a non-profit foreign corporation for each business year shall be limited to the income accruing from profit-making business.
