[Bills in Focus] Tax breaks, talent sourcing for domestic tech industry
PoliticsJun 19, 2023
Proposed bill: Partial Amendment to the Act on Restriction of Special Taxation Proposed by Rep. Kim Sang-hoon (People Power Party) ● The South Korean government has recently enhanced tax support for facility investments in semiconductors and other national strategy industries to bolster domestic production capabilities. However, the offered tax credits can only be claimed via corporate tax deductions, which means that businesses that invest in national strategy industries but fail to generate