Most Popular
-
1
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
2
Inflation eases in April, continues bumpy ride
-
3
Golden chance to liquidate babies’ gold rings?
-
4
Seoul to more than double military drones by 2026 to counter NK threats
-
5
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
6
Seoul alerts overseas missions to NK terror threats
-
7
Over 60% of S. Koreans support W100m childbirth incentive: survey
-
8
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
9
‘Inside Out 2’ adds four new emotions, explores teenage life
-
10
Questions raised over fair promotion of RM, NewJeans
[H2 ECONOMIC POLICY] Gov’t offers tax-breaks for middling firms returning home
By Korea HeraldPublished : June 28, 2016 - 12:48
[THE INVESTOR] Middling companies that replace overseas production facilities with those based in Korea will be given a three-year exemption from corporate and income taxes, the Ministry of Strategy and Finance announced on June 27.
In addition, the two taxes will be cut by half for additional two years after the initial exemption period. Any foreign worker from concerned companies’ overseas facilities hired to work in Korea will be provided with the E-7 visa, the ministry said.
Middling companies refer to those that fall in between SMEs and large enterprises.
In addition, the two taxes will be cut by half for additional two years after the initial exemption period. Any foreign worker from concerned companies’ overseas facilities hired to work in Korea will be provided with the E-7 visa, the ministry said.
Middling companies refer to those that fall in between SMEs and large enterprises.
Companies that meet any one of the four main criteria are categorized as a middling company immediately without review.
The criteria are, a standing workforce of more than 1,000, total assets exceeding 500 billion won (US$425.8 million), capital of more than 100 billion won, and three-year sales average exceeding 150 billion won.
Companies that have more than 300 workers, or whose capital exceeds 8 billion won can obtain middling company status after a three-year review period.
By Choi He-suk (cheesuk@heraldcorp.com)
-
Articles by Korea Herald
