Foreign Direct Investment - Tax Support - Business Start Up in South Korea
For foreign investment which meets a set of qualifications, corporate,income tax and customs duties on capital goods are exempted or reduced in accordance with the Restriction of Special Taxation Act. Acquisition tax, registration tax, and property tax on properties acquired or held for the operation of the business are exempted or reduced under local government ordinances mandated by the Restriction of Special Taxation Act. 1. Tax Support for Foreign-Invested Companies 2. Application for Tax Reduction or Exemption and Collection 3. Other Tax Support 1. Tax Support for Foreign-Invested Companies Corporate Tax Reduction Corporate tax reduction for foreign-invested companies applies to income generated from businesses that are subject to reduction under the Restriction of Special Taxation Act, with foreign investment ratio taken into account. However, in case that a Korean citizen (corporation) directly or indirectly holds 10% or more of the voting shares of a foreig