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

The South Korean National Assembly June 25 accepted for consideration Bill No. 2211073, to partially amend the Special Tax Measures Act. The bill includes a measure to extend the sunset date, to Dec. 31, 2029, from Dec. 31, 2025, for the special tax deduction on video content production costs, which allows a portion of the cost of producing video content to be deducted from income tax or corporate tax. The law would enter into force Jan. 1, 2026. [South Korea, National Assembly, 06/25/25]

Reference:
View Text of Bill No. 2211073. View Legislative History of Bill No. 2211073. View ...