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Global Trade Alert

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Republic of Korea: Increased tax credit rates for biopharmaceuticals as national strategic technology

Description

On 29 August 2023, the South Korean government announced increased tax credit rates for certain technologies related to biopharmaceuticals. Eligible companies can benefit from tax credits between 15% ...

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Intervention Details

Intervention Type

Tax or social insurance relief

MAST Chapter

L: Subsidies (excl. export subsidies)

Implementation date

29 Aug 2023

Revocation date

No revocation date

Implementation level

National

Affected flow

Inward

Announced as temporary

No

Eligible firms

all

Affected Trading Partners

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Affected Sectors

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Affected Products

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