Search results for local tax
Finance
MG Community Credit Cooperatives launches first local tax virtual account service in mutual finance sector
MG Community Credit Cooperatives has introduced a local tax virtual account payment service, the first in South Korea\'s mutual finance sector. The cooperative said the \"integrated virtual account\" collection service started on June 22. The system was built by linking its computer network with the local tax revenue collection platform operated by the Korea Local Information Research and Development Institute under the Ministry of the Interior and Safety. The service initially applies to regular and occasional local tax payments and is available in 49 local governments, excluding Seoul.
AI & Enterprise
Metanet Digital begins building private cloud-based local tax disaster recovery system
Metanet Digital said on Jan. 27 it signed a contract with the Korea Local Information Research and Development Institute to build a cloud-based next-generation local tax disaster recovery system and has begun full-scale work. The project will establish a disaster recovery structure on a container-based private cloud platform. Metanet Digital plans to expand a Red Hat OpenShift-based platform, apply TmaxTibero DBMS and use its MetaCICD solution to automate real-time deployment and operations across main and DR centres.
Finance
Korea to expand tax breaks, launch new ISA to encourage long-term domestic stock investment
South Korea will give long-term investors in the National Growth Fund both income deductions on invested amounts and separate low-rate taxation on dividend income. The government will also create a domestic-market-only “productive finance ISA” with significantly expanded tax benefits compared with existing ISAs. Eligible investments will be limited to domestic stocks and funds, the National Growth Fund and BDCs, while overseas ETF investing will be excluded. Tax changes are expected to be reflected in this year’s tax law amendment bill.