Abstract

The purpose of this paper is to evaluate 2010 tax reform according to IFRS adoption in Korea. Also this study makes some suggestions for Korean tax reform for the future. In December 2010,before the time of IFRS adoption from 2011, the Korean corporate tax law was reformed to reflect IFRS. By reviewing the changed tax codes, this research suggested some proposals for the future tax code reform as follows：First, the current relationship between accounting standards (IFRS) and Korean tax codes (tax laws) should be reconsidered. Second, because the changes in depreciation and allowance for bad debts is temporal in the condition of IFRS revision in 2013,these changes should be revised. In addition, the other codes, including the deferment of taxes according to the changes in inventory valuation methods and the depreciation units, should be revised next time.

Keywords

• IFRS
• 2010 tax reform
• tax law change
• K－IFRS

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