Wednesday January 9, 2:11 PM
Korean Govt to Offer Tax Benefits to Foreign High-Tech Investors
sg.news.yahoo.com
SEOUL, Jan 9 Asia Pulse - The government today revised regulations concerning tax benefits to foreign investors in the automation of the distribution industry, information processing, pilot training and 575 other state-of-the-art technologies.
The regulations will take effect from Monday and will offer corporate, income and dividend tax exemptions for foreign investors in the high-tech industries for the first seven years and 50 per cent reduction in those taxes for the following three years, said the Ministry of Finance and Economy.
Foreign investors in the high-tech industries will also be exempt from registration, acquisition and real property taxes for the first five years and have 50 per cent reductions for the following three years.
The revised regulations, aimed at attracting foreign investment in high-tech industries, will increase the sectors to be affected by tax benefits to 578 from the current 534.
Among the new entrants are the information industries, training centers for such high-technologies as information processing, aviation, electronic and telecommunications, environment-related technologies and bio and nano technologies.
(Yonhap) |
