IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jan 2010 | Removal date: open ended
Still in force

FDI: Financial incentive

 During 2009, according to the Ministry of Strategy and Finance, Korea enacted the following changes to its tax laws that may be of relevance to foreign commercial interests:
1. Expanded the definition of non-taxable labour income to include income earned abroad by "assistant workers in construction workers." No such exemption appears to have been offered to construction sites employed in Korea.
2. Relaxed eligibility rules for tax credits for Korean firms for the taxes that their subsidiaries pay abroad. 

AFFECTED COUNTRIES

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