On 21 March 2019, South Korea's Ministry of Economy and Finance announced that the government will cut taxes on stock transactions. The effective date is not set but is expected by mid-2019.
Korea to Cut Stock Transaction Tax
The government will cut taxes on stock transactions this year to support the secondary market for venture firms, as well as promote venture capital. The new tax rates are as follows:
The government will also change capital gains taxes on stock transactions, and will impose taxes only on net gains earned throughout the year, losses deducted from the taxable sum. The change will allow transfer of losses between domestic and foreign stock transactions, and will take effect from January 1, 2020.
We’re here to answer any questions you have about the Orbitax products and services.
We’re committed to providing high value, low cost tax research and management solutions.
Our Twitter account is where you can find latest information, news updates, offers and lots more.