Korea will cut R&D investment tax 30% for high-tech firms
The Korean government has announced a series of R&D-related tax reductions in an effort to ignite economic growth. This will benefit high-tech companies but CFOs need to assess the financial implications.
On April 28, the Korean Ministry of Strategy and Finance released comments by Deputy Prime Minister Yoo Il Ho promising to reduce tax on research and development (R&D) investment by 30% for the country’s high-tech industry. The sweetener is part of a concerted effort to stimulate its listing economy, although no timeline for the changes was immediately offered.
Highlights of Yoo Il’s proposals include:
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