South Korea Parliament Considers Bill to Amend Tax Deduction for Investments in Semiconductor Companies

The South Korean National Assembly March 14 accepted for consideration Bill No. 2120614, to amend tax deductions for investments in semiconductor companies. The bill includes measures to: 1) increase the deduction rate to 20 percent from 8 percent for large companies; 2) increase the deduction rate to 25 percent from 16 percent for medium-sized companies; 3) increase the deduction rate to 30 percent from 16 percent for small companies; and 4) extend the end date for the deduction to Dec. 31, 2030, from Dec. 31, 2024. [South Korea, National Assembly, 03/14/23]

Reference: View Legislative History of Bill No. 2120614. ...