South Korea Assembly Considers Bill to Partially Amend Special Tax Measures Act

The South Korean National Assembly Sept. 11 accepted for consideration Bill No. 2212913, to partially amend the Special Tax Measures Act. The bill includes measures to extend to Dec. 31, 2027, from Dec. 31, 2025, the sunset date for the: 1) 10 percent corporate income tax credit on mutual cooperation funding; 2) 3 percent corporate income tax credit on the book value of tangible fixed assets leased to cooperative small and medium-sized enterprises (SMEs); 3) 1 percent corporate or individual income tax credit, increased to 3 percent for medium-sized enterprises and 7 percent for SMEs, on investments in specified consignee ...