On 20 October 2020, South Korea’s National Tax Service (NTS) has released updated Mutual Agreement Procedure (MAP) guidance on the official website.
The guidance prescribes the following key areas:
- Overview of a Mutual Agreement Procedure (MAP);
- Application of MAP;
- Proceedings and Closing of MAP;
- Implementation of MAP Outcome; and
- Application Form for Commencing Mutual Agreement Procedure.