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9. Filing Tax Return and Payment

a. Filing Tax Return

(1) Due dates for filing a tax return

A corporation tax return must be filed within three months from the last day of the

business year.

(2) Required documents

(a) Attached to the tax return shall be a balance sheet, an income statement, a

surplus appropriation statement, and other necessary documents.

(b) The calculation form of corporation tax and its accompanied documents in

accordance with the Presidential Decree.

(c) In cases where the necessary materials are not attached to the tax return, it is

deemed not to have been filed.

b. Interim Pre-payment

(1)

A domestic corporation of which business year exceeds 6 months is liable to interim

tax payment by the end of the second month from the end of the interim period (i.e., 6

fiscal months). The amount of pre-payment is computed as shown below:

Tax Amount Payable = {TPY - (a) -  (b) -  (c)} * 6 / NMPFY

Where TPY = Tax Amount for Preceding Year, and

NMPFY = Number of Months of Previous Fiscal Year

(a) corporation tax exempted or reduced in the business year immediately preceding

the current business year;

(b) withholding tax paid in the business year immediately preceding the current

business year;

(c)  taxes paid due to occasional assessments in the business year immediately

preceding the current business year.

(2) Any corporation that has no tax payable for the immediately preceding business year

(excluding corporations that correspond to Article 51-2, paragraph 1 of the Corporation

Tax Law) or one whose tax liability for the previous business year has not been

determined by the end of the interim prepayment period shall pay an amount of tax for

interim prepayment, calculated by deducting the followings from the deemed corporation

tax that corresponds to the interim prepayment period:

(a) an aggregate of deductible tax amounts for the interim prepayment period in

question;

(b) an amount of withholding tax paid as corporation tax for the period in question;

(c) an amount of tax for occasional assessment paid as corporation tax for the

period in question.

c. Payment

(1)   A corporation filing a tax return must pay by the last day of tax return period the

amount remaining after deducting the following items from the calculated tax for each

business year:

(a) An aggregate of tax credit amounts

(b) Amount of tax for interim prepayment

(c) Amount of tax for occasional assessment

(a)

Amount of tax withheld at source

(2)   Where the amount of tax payable by a domestic corporation pursuant to the above

paragraph exceeds 10 million won, part of the amount of tax payable may be paid in

installments within one month (45 days in case of small and medium corporations) from

the end of the payment period, in such a manner as prescribed by the relevant

Presidential Decree.