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

The South Korean National Assembly Sept. 30 accepted for consideration Bill No. 2213400, to partially amend the Special Tax Measures Act. The bill includes measures to: 1) expand, to companies established within 10 years from companies established within seven years, the scope of venture companies eligible for tax benefits; 2) increase, to 10 percent from 5 percent, the domestic corporation venture investment tax credit rate, with an increase to 15 percent for stocks or equity shares acquired through investment in venture companies located outside the metropolitan area; 3) expand the tax deduction amount and limit for indirect investments in individual ...