Global Trade Alert
Global Trade Alert

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

Announcement

29 Aug 2023

In August 2023, the South Korean government announced an amendment to the Restriction of Special Taxation Act, increasing tax credit rates for several technologies related to biopharmaceuticals.

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Number of interventions

2

2 certainly harmful

0 likely harmful

0 liberalising

List of interventions

Implementation date

29 Aug 2023

Revocation date:

No revocation date

Updated: 29 Aug 2023
Tax or social insurance relief In force

On 29 August 2023, the South Korean government announced increased tax credit rates for certain technologies related to biopharmaceuticals. Eligible SMEs can benefit from tax credits between 25% an...

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Updated: 29 Aug 2023
Tax or social insurance relief In force

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 1...

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