OrbitaxTax law changes for 2010 – direct tax
|Approved Changes|Korea (Rep.)
On 31 December 2009 and 1 January 2010, the government promulgated changes to various tax laws. The changes take effect from 1 January 2010 unless specified otherwise.
The key changes are summarized as follows:
Corporate Income Tax Law (CITL)
| - | The tax rate reduction from 22% to 20% for the income bracket of more than KRW 200 million will be postponed by 2 years, i.e. from 1 January 2012… |