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Article: KOREA'S CORPORATE TAX RATE HIGHER THAN THOSE OF COMPETING NATIONS.
- Article from:
- AsiaPulse News
- Article date:
- September 23, 2003
CopyrightCOPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SEOUL, Sept 23 Asia Pulse - South Korea's corporate income tax rate is higher than those of most competing countries, while the degree of corporate satisfaction with tax cuts and exemptions is the lowest among its competitors, a trade group said Tuesday.
The Korea International Trade Association (KITA) said Korea's corporate tax rate was 29.7 per cent as of January this year, higher than Malaysia's 28 per cent, Singapore's 22 per cent, Hong Kong's 17 per cent and Ireland's 12.5 per cent.
Among its competitors, only China had a higher corporate tax rate of 33 per cent.
The association said Korea's corporate tax rate was slightly lower than the ...