National Tax Service-AmCham Meeting After 7 Years... Kim Chang-gi "Fair Taxation Without Discrimination"

[Asia Economy Sejong=Reporter Kim Hyewon] On the 16th, Kim Chang-gi, Commissioner of the National Tax Service, met with the American Chamber of Commerce in Korea (AMCHAM) and stated, "We will provide a stable investment environment so that foreign companies can focus solely on their business without tax concerns through transparent, non-discriminatory, and fair taxation and world-class taxpayer services."

On the morning of the same day, Commissioner Kim held a meeting at The Plaza Hotel in Seoul, inviting 10 representatives from AMCHAM, including James Kim, AMCHAM Chairman, and Ahn Ik-hong, Chairman of the AMCHAM Board of Directors. This was the first time in seven years since 2015 that the National Tax Service held a meeting with foreign companies.

Commissioner Kim requested, "Please have AMCHAM serve as a communication channel between foreign companies and the government so that the Korean economy and American companies can grow together as partners." He then introduced tax reform plans such as the reduction of the corporate tax top rate, special tax treatment with a single tax rate for foreigners, and the extension of the application period for tax credits for foreign technicians, as well as customized tax support services for foreign companies.

The AMCHAM delegation conveyed difficulties foreign companies face during tax audits and proposed extending the application period for the single tax rate for foreign workers and applying alternative documents besides the certificate of residency when implementing the tax exemption system on national bond interest. Commissioner Kim responded, "We will actively review the difficulties and suggestions from the field to reflect them in future policies," and added, "We will continue to strengthen communication with foreign-invested companies, including American companies in Korea."

This content was produced with the assistance of AI translation services.