< CHANGE OF FISCAL YEAR >
< Tax law on the change of fiscal year >
■  Corporate Tax Law, Article 7 (Change of Fiscal Year)
(1) A corporation that intends to change its fiscal year shall make report to the chief of the regional
tax office having jurisdiction over the place of tax payment within three months of the date of the last
day of the immediately preceding fiscal year as prescribed by the Presidential Decree.
(2) Where a corporation does not make report within any such period as prescribed in paragraph
(1), its fiscal year shall be deemed to be not changed, provided that where a corporation's fiscal
year which is prescribed by Acts and subordinate statutes is changed by amendment thereto, the
fiscal year shall be deemed to be changed according to such amendment even if a report as
prescribed in paragraph (1) is not made.
(3) Where the fiscal year is changed under paragraph (1) and the proviso of paragraph (2), the
period from the beginning date of the previous fiscal year to the day before that of the changed
fiscal year shall be deemed to be one fiscal year, provided that where such period is less than
one month, it shall be included in the changed fiscal year.
Therefore, if ABC Korea wants to change its fiscal year, following is the summary.
Situation :	ABC Korea wants to change the fiscal year from December to June
	effective from 2007.
	In this case, company should declare the change with the tax office
	on or before three(3) months from the prior fiscal year.
period			deadline for tax return
6th	2006.1.1 ~ 2006.12.31		2007.3.31
7th	2007.1.1 ~ 2007.6.30		2007.9.30
8th	2007.7.1 ~ 2008.6.30		2008.9.30
< REQUIRED DOCUMENTS FROM OVERSEAS >
No specific document is required from overseas.