South Korea's 2018 budget bill was enacted on 19 December 2017 and includes a number of tax reform measures (previous coverage). The following is an update on some of the key measures not previously covered. The measures generally apply for fiscal years beginning on or after 1 January 2018, unless indicated otherwise below:
Click the following link for an English-language release from South Korea's Ministry of Strategy and Finance on the enforcement decrees for various measures of the budget. Additional enforcement decrees are expected to clarify the application of other measures.
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