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

The South Korean National Assembly Jan. 22 accepted for consideration Bill No. 2216254, to partially amend the Special Tax Measures Act. The bill includes measures to: 1) tax dividends at 9 percent through Dec. 31, 2028, on investments in Corporate Growth Collective Investment Vehicles; 2) establish National Growth Collective Investment Securities Savings, taxing dividends within five years at 9 percent and excluding them from the base for accounts opened by Dec. 31, 2030; 3) allow income deductions for annual investments, including a deduction of 40 percent of the investment amount for investments up to 30 million South Korean won (US$20,814) ...