The South Korean government has revealed that it is set to offer tax breaks to foreign investors.
The country's Vice Finance Minister, Hur Kyung-wook, revealed that under the new scheme, foreigners investing in state and currency bonds will be given an income tax exemption on interest payments, and will also be exempt from capital gains tax.
Currently, foreign investors are subject to a 14% withholding tax on such bond interest, plus a 10% surcharge in many cases, making a total of 15.4%.
Foreign investors currently own an estimated KRW38 trillion (USD25bn) of the country's bonds.
The country's Ministry of Strategy and Finance will seek parliament's approval on the matter in April.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment