In this blog post, we will delve into the concept of necessary entertainment expenses for income tax purposes in Korea. Understanding what qualifies as necessary expenses can help businesses optimize their tax deductions while ensuring compliance with the relevant regulations. Necessary Entertainment Expenses According to Article 35 of the Income Tax Act, entertainment expenses related to busine..
In this blog post, we will delve into the concept of necessary expenses for business income in Korea. Understanding these expenses is crucial for businesses to accurately compute their taxable income. Let's explore the scope and categories of necessary expenses for business income. Scope of Necessary Expense Necessary expenses for business income encompass the total amount of expenditures incurr..