Search results for Rural Special Tax
Politics & Government
Park Hong-geun says Future Response Fund to invest in AI and regions
South Korea\'s government is considering a broad range of investment targets for a Future Response Fund to be formed from additional tax revenue, including AI and other advanced industries as well as rural and regional projects. Planning and Budget Minister Park Hong-geun said about 10 trillion won in extra funds had been secured from a surge in securities transaction tax and would be reviewed for contributions to rural development and agricultural growth. The fund\'s size has not been disclosed.
Finance
FX stabilisation bills pass parliament; tax exemption up to 100 percent for return to Korean stock market by May
South Korea\'s parliament on Monday passed a package of tax bills dubbed the \"three bills for exchange rate stability\" under a bipartisan agreement. Under the revisions, individual investors can receive up to a 100 percent deduction on capital gains tax if they invest proceeds from selling overseas shares through a return-to-domestic-market account, or RIA, in the local stock market for one year. The deduction rate declines for later sales, and a new tax break applies to FX hedging derivatives.
Finance
National Growth Fund to offer up to 40 percent income deduction; RIA cherrypicking curbs detailed
South Korea will grant an income deduction of up to 40 percent to individuals investing in a public-participation National Growth Fund, with a separate 9 percent tax on dividend income for long-term investments. It will also create tax incentives for return-to-domestic-market accounts that convert proceeds from selling overseas stocks into won and invest domestically, while adjusting benefits to deter cherrypicking and adding limited, time-bound FX market measures.