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[THE INVESTOR] US-based software giant Microsoft has reportedly filed a complaint at the National Tax Service in Korea, seeking a refund of 600 billion won (US$532.80 million) withholding tax it paid over the past years.
The US software firm is said to have requested a reassessment, claiming that NTS levied taxes on royalties paid by Korean firms for the use of its patents, which are registered in the US.
Imposing taxes on the profits of patents not registered in the nation has been ruled illegal as the Korean tax regulations follow the territorial basis.
Korean courts have recently ruled that the Korean tax agency does not have a right to deduct withholding tax on income earned through patents which are not registered in Korea.
MS Korea declined to comment on the matter.
By Kim Young-won (wone0102@heraldcorp.com)
The US software firm is said to have requested a reassessment, claiming that NTS levied taxes on royalties paid by Korean firms for the use of its patents, which are registered in the US.
Imposing taxes on the profits of patents not registered in the nation has been ruled illegal as the Korean tax regulations follow the territorial basis.
Korean courts have recently ruled that the Korean tax agency does not have a right to deduct withholding tax on income earned through patents which are not registered in Korea.
MS Korea declined to comment on the matter.
By Kim Young-won (wone0102@heraldcorp.com)
