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

The South Korean National Assembly April 10 accepted for consideration Bill No. 2218258, to partially amend the Special Tax Measures Act. The bill includes measures to increase: 1) to 60 million South Korean won (US$40,783) from 20 million won (US$13,594), the annual contribution limit for Individual Comprehensive Asset Management Accounts (ISAs); 2) to 300 million won (US$203,916) from 100 million won (US$67,972), the lifetime ISA contribution cap; and 3) to 6 million won (US$4,078) from 2 million won (US$1,359), the tax-exempt limit for interest and dividend income generated within an ISA, and to 12 million won (US$8,157) from 4 million ...