Successful Cancellation of Approximately KRW 1.2 Billion in Local Corporate Income Tax through Pre-Assessment Review Representation

PropertyOne, the first dedicated Local Tax and Levy Specialist Team within the firm, successfully represented a real estate development corporation throughout all pre-assessment procedures—from local tax audits to pre-assessment review—resulting in the cancellation of approximately KRW 1.2 billion in local corporate income tax.

In this case, key issues included the interpretation of the business location under the Local Tax Act, the meaning of human and physical facilities, and the question of concurrent positions held by executives. PropertyOne clarified the legal principles governing the definition of a business location and the scope of human and physical facilities, ultimately achieving full cancellation of the tax assessment, including penalties.