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Effective Corporate Tax Rate Remains at Around 16 pct for Past 7 years: Gov’t Data

Effective Corporate Tax Rate Remains at Around 16 pct for Past 7 years: Gov’t Data

SEOUL, Jul. 12 (Korea Bizwire) — South Korea’s effective corporate tax rate has remained at around 16 percent since 2010 due to various deductions and exemptions despite the nominal corporate tax rate marked at 22 percent, government data showed Wednesday. The effective corporate tax rate was 16.6 percent last year, up 0.5 percent from the [...]

Korea’s 2014 Tax Revenue to Fall Short of Target by 13 Trillion Won

SEOUL, Dec. 29 (Korea Bizwire) – Korea’s 2014 tax revenue will likely miss its target by 11.7 trillion won (US$ 10.6 billion) to 12.7 trillion won (US$ 11.5 billion), according to a statement from the National Assembly Budget Office (NABO) on December 28. Korea’s tax revenue shortfall has been on the rise from 2.8 trillion won (US$ [...]