Korea: Trends in customs audits
Plans announced to conduct special customs investigations to address difficulties in obtaining tax-related documents
Trends in customs audits
The KPMG member firm in Korea prepared a report discussing the following trends in customs audits:
- The Commissioner of Korea Customs Service announced plans to conduct special customs investigations to address difficulties in obtaining tax-related documents and information from multinational corporations, especially in connection with intercompany transactions.
- Customs authorities have intensified their scrutiny on compliance, specifically reviewing the acquisition of import licenses in accordance with individual laws and regulations, including the Chemical Substances Management Act, the Electronic Devices Safety Act, and the Radio Waves Act.
Read a November 2023 report [PDF 1 MB] prepared by the KPMG member firm in Korea
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