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

The South Korean National Assembly March 21 accepted for consideration Bill No. 2209223, to partially amend the Special Tax Measures Act. The bill includes measures to extend the sunset date, to Dec. 31, 2030, from Dec. 31, 2025, for corporate tax exemptions for certain cooperative corporations, including agricultural cooperatives, and zero-rate VAT on agricultural equipment. The law would enter into force Jan. 1, 2026. [South Korea, National Assembly, 03/21/25]

Reference:
View Bill No. 2209223. View Legislative History of Bill No. 2209223. View Index.