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South Korean National Assembly Considering Extension of Carryforward Period for Strategic Technologies Investment Tax Credits

|Proposed Changes|South Korea
South Korea

South Korea's National Assembly is considering a draft bill that would amend the Special Taxation Act to extend the carryforward period for unused tax credits for investments in national strategic technologies. In particular, the carryforward period would be extended from 10 years to 20 years to better support sustained investment and innovation in areas such as semiconductors, artificial intelligence, advanced robotics and manufacturing, biotechnology, quantum technology and other strategic…

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