South Korea Gazettes Presidential Decree Amending Enforcement of Restriction of Special Taxation Act

The South Korean Official Gazette Feb. 27 published Presidential Decree No. 36127, partially amending the enforcement decree for the Restriction of Special Taxation Act. The decree includes measures: 1) expanding the tax credit for research and human resources development to add costs for specified artificial intelligence (AI) data; 2) allowing temporary commercialization of national strategic and new growth R&D facilities without losing the integrated investment tax credit; 3) changing, to 20 million South Korea won (US$13,888) annually from 30 million won (US$20,833) per resident, investments eligible for the deduction for venture business investment trust securities; 4) changing youth eligible for ...