- South Korea opened a consultation on Draft Legislative Notice No. 2025-154 to amend the Special Tax Measures Act
- Increase income threshold for start-up SMEs to 104 million South Korean won
- Extend special tax exemptions and credits for SMEs and related investments until December 31, 2028
- Introduce new incentives for digital transformation
- Exempt certain domestic source incomes from exempt international financial institutions
- Amend tax credit rate for content creation costs to 10 percent generally and 15 percent for SMEs
- Allow deferral of tax on capital gains for in-kind investments in shares of nonresident companies’ subsidiaries
- Extend zero-rated VAT on qualifying equipment and VAT exemptions on specific items until December 31, 2028
- Comments are due by August 14
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
