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Article: New Korean administration proposes corporate tax cuts.
- Article from:
- Australasian Business Intelligence
- Article date:
- March 30, 2008
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Copyright informationCOPYRIGHT 2008 News provided by Comtex. 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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Byline: Bob Reynolds
Mar 30, 2008 (International Tax Review - ABIX via COMTEX) -- New corporate income taxes will be introduced in South Korea. DJ Yeo, of Korean law firm Kim & Chang, said the tax cut plan will go before the National Assembly in September 2008. Taxpayers will pay a 12 per cent tax on taxable income up to W200 million ($US212,000) and 24 per cent on anything above that in 2009. The following year, the upper rate will be cut to 23 per ...
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