Tax litigation and disputes
Yoon & Yang’s Tax Practice Group offers creative and insightful legal advisory services regarding tax-related litigation and disputes. The Group represents clients in administrative proceedings before the National Tax Service, the Board of Audit and Inspection of Korea, and the Tax Tribunal in addition to administrative litigation on the imposition of various taxes. The Group also provides clients legal services in civil litigation to claim tax refunds, criminal tax litigation, and constitutional appeals to adjudicate constitutionality of tax-related laws and regulations.
The Group provides sophisticated legal services based on comprehensive analysis of tax laws, precedents, and other legal references relevant to each case. The Group is headed by the firm’s managing partner, Seong Soon Lim, who is a renowned tax expert and the author of a legal textbook titled Tax Law. In addition, our attorneys Deok Mo Jung, Oh Young Jeon, Seung Nam Yoo, Seon Ae Lee, and Tae Hwan Oh all have extensive practical experience in a wide scope of tax-related litigation and disputes. The Group also includes licensed tax accountants who have served at the National Tax Service, and certified public accountants who have worked at major accounting firms.
The Group has successfully handled high-stakes tax litigations and disputes including cases involving Samsung Group, Hyundai Home Shopping Corporation, and Kookmin Bank that have attracted extensive attention from the public and media. In particular, LS-Nikko Copper’s tax evasion case, represented by a team of the Group headed by Seong Soon Lim and Oh Young Jeon, was selected by the International Tax Review as Korea’s case of the year in 2008.
Tax advisory services
Yoon & Yang’s Tax Practice Group advises clients on the most effective way in creating innovative and efficient solutions to complex tax issues arising from various transactions and business operations including M&A transactions, and investment and development projects. In order to cope with complex changes in tax laws and regulations and to accomplish our clients’ business goals, the Group provides tax counseling services based on the expertise and experience of its tax experts. Our team includes managing partner Seong Soon Lim, attorneys with abundant experience and expertise in tax-related litigation and disputes, advisors who were former heads of Regional Tax Offices, certified public accountants who worked for accounting firms, and licensed tax accountants who served at the National Tax Service.
Tax auditing is a process whereby tax authorities investigate a taxpayer who is suspected of evading taxes or filing a false tax return. Based on diverse experiences and expertise in tax law, Yoon & Yang’s Tax Practice Group protects clients’ rights during every step of a tax audit by analyzing and organizing the facts, submitting opinions regarding the audited issues, persuading tax auditors, and providing advice on confirmation statements to the auditors and interviews with them.
The Group has vast hands-on experience in responding to tax audits. Experts of the Group, including a legal advisor who is a former head of a Regional Tax Office, licensed tax accountants who served at the Audit Division of the Seoul Regional Tax Office, and tax attorneys who have accumulated abundant practical experience in tax-related litigation and disputes, facilitate termination of tax audits at an early stage by providing clients with in-depth legal counsel and solutions which also effectively address potential future tax litigations.
Yoon & Yang’s Tax Practice Group advises both Korean companies investing abroad and foreign investors in Korea. The Group provides foreign corporate clients with advice and counsel on tax issues stemming from their investment and establishment of corporate presence in Korea. The Group also advises Korean companies investing overseas on cross-border taxation issues, including those involving offshore holding companies. In addition, the Group provides comprehensive transfer pricing counseling services related to, among others, price determination of internationally traded items, which is one of the most important cross-border tax issues faced by multinational companies that operate businesses at home and abroad. Experts of the Group offering advisory services regarding international taxation include foreign attorneys admitted to overseas jurisdictions as well as licensed tax accountants and certified public accountants specializing in international taxation.
The Group works closely with other practice groups in addressing related issues such as foreign exchange, labor, and industry-specific regulations, and ensures that our clients receive comprehensive legal services of the highest caliber.
Tax litigation and disputes
• Services relating to pre-taxation reviews
• Services relating to tax examination and assessment, and appeals against tax decisions
• Filing administrative proceedings against imposition of national tax, local tax, customs and international tax
• Filing claims questioning the constitutionality of provisions of tax laws and regulations
• Filing tax-related civil claims, such as claims seeking refund of overpaid tax
• Defending criminal tax cases, such as those involving violations of the Punishment of Tax Evaders Act, etc.
Tax advisory services
• Tax consulting relating to M&A, business transfer, and other corporate transactions
• Providing strategic tax planning and analysis services relating to new investments and new businesses
• Providing advisory services on complicated tax matters involving corporate tax, income tax, VAT, local tax, among others
• Providing advisory services on tax issues involving inheritances and donations.
• Conducting tax violation investigations
• Conducting investigations on share transfer
• Conducting regular and special tax audits relating to corporate tax, income tax, VAT, among others
• Conducting inheritance tax investigations
• Conducting investigations on donation tax, money sources and other related matters
• Providing advice and counsel on tax issues relating to the establishment of domestic corporate presence by foreign entities
• Providing advice on foreign investment companies’ filing of application for tax reduction
• Conducting due diligence on foreign investors’ takeover of Korean companies and constructing takeover structures
• Providing tax advice on structuring overseas holding companies
• Providing tax advice on effective foreign investment fund structures
• Providing tax advice on transfer pricing issues
• Providing tax advice related to advance pricing agreements and other related matters
• Won acquittal for a former sales team leader of LS-Nikko Copper in a case involving alleged conspiracy with a gold bar supplier for tax evasion purposes
• Represented clients in tax litigations involving Jae Yong Lee of Samsung Group, Hyundai Shopping, Kookmin Bank, etc., which attracted extensive public and media attention
• Provided legislative liaison and government relations services regarding capital gains tax on transfer of unlisted PEF shares
• Achieved gift tax cancellation in a case where the designated insurance beneficiary differed from the actual recipient
• Provided advisory services on tax treaties and other related matters involved in the acquisition of real estate located in Berlin, Germany
• Advised a cable company on transfer pricing issues relating to international tax adjustment
• Litigated a case on cancellation of VAT imposed on domestic gold bar suppliers/companies
• Litigated a case on cancellation of corporate income tax imposed on a trading company for the export of plants through deferred-payment export financing
• Represented a domestic airline company in requesting tax refund relating to the operating lease of aircrafts
• Litigated a case on cancellation of gift tax imposed for the acquisition of convertible bonds by related parties, such as directors and employees of conglomerates
• Litigated a case on behalf of the Korean Railroad Corporate on cancellation of VAT regarding division of common input tax
• Won acquittal of criminal charges and cancellation of a large portion of the imposed tax in the so-called “shipping magnate case”, where income tax and corporate income tax of hundreds of millions Korean Won were imposed for offshore tax evasion based on the assumption that while the business operator resided abroad, the business was essentially managed domestically.
- / Successful Repeal of Imposition of Corporate Tax (Withholding)
- / Successful Repeal of Imposition of Corporate Income Tax
- / 2015 Tax Reform Proposals: International Taxation Transfer Pricing
- / US Implementation of the FATCA, its Ramifications and Action Plans in Response
- / Luncheon Forum for Chief Financial Officers regarding Offshore Financial Account Reporting System
- / Partial Amendments to the Value-Added Tax Act and the Customs Act