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Article: Korea's Corporate Tax Rate Higher Than Competing Countries.
- Article from:
- YON - Yonhap News Agency of Korea
- Article date:
- September 23, 2003
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SEOUL, Sept. 23 (Yonhap) -- 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 percent as of January this year, higher than Malaysia's 28 percent, Singapore's 22 percent, Hong Kong's 17 percent and Ireland's 12.5 percent.Among its competitors, only China had a higher corporate tax rate of 33 percent. The association said Korea's corporate tax rate was slightly lower than the median rate of 30.79 ...