A Comparative Study on Tax Systems between North Korea and South Korea for Foreign Invested Companies and Foreigners
Asian Tax Journal Vol. 14 No. 6 (2013), pp. 67-103
Abstract
North Korea had operated tax system for a considerable period, but North Korea said ‘State completely removes outdated tax system.’ through the revised constitution in 1972. Nevertheless, the provision has been applicable to local residents and tax has been imposed on foreign invested Companies and foreigners. This paper carried out comparative analysis on tax system of South and North Korea's foreign invested Companies and foreigners to be easy to understand North Korea’s tax system. This study can be summarized as follows. First, there is relatively a little negative awareness of foreign investment in North Korea. Second, North Korea has a understanding that foreign investment is a way to have open－door policy. Third, there are no individual tax acts in North Korea. It requires to take all these considerations into account.
Keywords
- North Korea tax
- Foreign Investment Companies and Foreigners Tax Act
- Act of Foreigner Investment Promotion
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