International Trade Association (Chairman, Kim Young-joo) will hold a seminar
on "Seminar on the Trends in US Tax Reform and Response Plans of Korean
Company" at the Trade Tower in Samseong-dong, Seoul on Thursday, July 22,
in cooperation with Yulchon LLC.
US tax reform lowers the
corporation tax up to 21 percent at a single tax rate and imposes income tax on
overseas revenue based on territorial system. Also, a deduction clause has been
newly established in order to increase investment in the United States. On the
other hand, it is required for multinational corporations in the US to be more
cautious about the limitation of deduction for overseas expenditure and the
taxation on additional income of overseas subsidiaries.
In this seminar, the
Korea International Trade Association will analyze the economic impact of US
tax reforms, while Yulchon and Baker McKenzie will introduce the revised US tax
laws and the global companies’ response plans and implications. For this event,
the Korea International Trade Association and Yulchon have invited the tax
experts at Baker McKenzie, the world's largest law firm, and individual
consultation meetings will be carried out after the seminar.
at the Korea International Trade Association said that this seminar will
provide useful information for the Korean companies who are willing to invest
in the United States by stating, “Last year’s massive reform of the tax
system in 31 years has been causing a great deal of repercussions in the United
States as well as all around the world in just a month since its