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South Korea Opens Global Minimum Tax Filings for Over 2,500 Multinational Firms Next Month
South Korea's tax authorities will begin accepting filings under the new global minimum corporate tax regime from more than 2,500 multinational enterprises starting May 2. Qualifying companies must complete their first filing and payment for fiscal year 2024 by June 30. The regime enforces a 15 percent minimum tax rate on firms with over 750 million euros in annual revenue.
Apr 27, 11:00 PM·1m read1 source
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South Korea's tax authorities announced on April 28, 2026, that they will begin receiving filings under the new global minimum corporate tax regime from more than 2,500 multinational enterprises next month, Yonhap reported. Qualifying companies must complete their first filing and payment for fiscal year 2024 by June 30, 2026.
The filing period for the global minimum corporate tax opens on Friday, May 2, 2026, according to the National Tax Service.
The global minimum corporate tax regime requires a minimum corporate tax rate of 15 percent for companies with more than 750 million euros in annual revenue. That threshold equals US$878 million. Qualifying companies consist of more than 2,500 multinational enterprises, including virtually all major domestic conglomerates in South Korea.
Under the rules, qualifying companies must file in South Korea regardless of whether their ultimate parent company is based domestically or abroad. Subsidiaries in South Korea are required to file even if the parent company's home country has not implemented the global minimum tax.
Government entities, international organizations, nonprofit groups, and pension funds are exempt from the global minimum corporate tax arrangement.
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