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Income Tax Act (Act No. 33 of July 15, 1949, as amended up to Act No. 13282 of May 13, 2015), Republic of Korea
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Latest Version in WIPO Lex
Year of Version
2015
Dates
Adopted:
July 15, 1949
Type of Text
IP-related Laws
Subject Matter
Other
Notes
This consolidated version of the Income Tax Act of 1949 incorporates all the amendments up to Act No. 13282, which was adopted on May 13, 2015, and came into force on the same date (see Addenda for a listing of the Amendment Acts and dates of entry into force thereof).
Chapter IV, Section 1, Article 119 of the consolidated version of the Act refers to the taxation of domestic source income earned by non residents.
Article 119(10) provides, inter alia, that the income earned from IP rights of non-residents, which are considered as domestic source income are subject to income tax.
The IP rights enumerated in Article 119(10) includes: (i)any copyright of scientific or artistic work (including cinematography films), any patent, trademark, design or model, drawing, secret formula or process, films and tapes for radio and television broadcasts, and miscellaneous assets or rights similar thereto; and (ii) information or know-how on industrial, commercial or scientific knowledge and experience.
Available Texts
Main text(s)
Main text(s)
Korean
소득세법 (1949년7월15일에 제정된 법률 제33호는 2015년3월13일의 법률 제13282호 개정에 이르기까지 수차례 개정이 이루어짐)
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Legislation
Supersedes (5 text(s))
Supersedes (5 text(s))
WIPO Lex No.
KR250