Research Report
Analysis and Prospect of North Korea's Tax Law and Financial Management: Focusing on Foreign-invested Company
Ⅰ. Backgrounds and Purposes
▶ Reasons for enactment(revision) of the Foreign-invested Business and Foreign Tax law & Financial Management for Foreign-Invested Company in North Korea
○ Revise the Foreign-Invested Business and Foreign Tax law, Financial Management for Foreign-Invested Company, Implementing regulations, and rules for implementing the regulations.
○ Review whether it is in line with North Korea's policy direction to achieve economic development through foreign capital investment.
Ⅱ. Major Content
▶ Analysis of condolences on Foreign-invested Business and Foreign Tax law in North Korea
○ Analysis based on the basic principles of taxation: taxpayer, taxable object, tax base, and tax rate
○ Comparative Analysis of related laws, Implementing regulations, and rules for implementing the regulations
▶ Comparative analysis of North and South Korean foreign-invested Business and Foreign Tax law
○ Analysis based on the basic principles of taxation: taxpayer, taxable object, tax base, and tax rate
○ Comparing South and North Korea-related laws
▶ Comparative analysis of North Korea and IFRS Financial Management for Foreign-Invested Company
○ Analysis based on the International Financial Reporting Standards
Ⅲ. Expected Effects
▶ The direction of revision of foreign-invested Business and Foreign Tax law and financial management for foreign-invested company
○ Resolving tax uncertainty for foreign-invested Business
○ Resolving financial management uncertainty for foreign-invested Business
○ Contributes to rational investment decision