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.
