Provides the optimal business environment with various benefits
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Requirement(FDI) | Taxes | Reducution or Exemption | Remark | |
---|---|---|---|---|
|
National Taxes(Customs Duties, VAT,Individual Consumption Tax) | Customs Duties Only | 100% for 5 years(for imported capital goods) |
|
in case of complexe type, FEZ, and FTZ | ||||
Customs Duties Only | 100% for 5 years(for imported capital goods) | |||
in case of individual type and new growth engine industries | ||||
Local Taxes(Acquisition Property) | Acquisition Tax | Busan : 100% for 15 years, Jinhae : 100% for the first 7years, and 50% for the following 3years | ||
Property Tax | 100% for 7 years for both Busan and Jinhae |
% of Reduction | In cases of | |
---|---|---|
Lease Fee Reduction | 100% |
|
75% |
|
|
50% |
|
※ Lease is available for up to 50 years. and Lease Fee is 1% of the Land Price.
※ National tax(Corporate tax& Income tax) incentives expired in 2018