2019 세법개정안...기업 세부담 완화에 집중

The government announced a revised tax code on Thursday.
The move is designed to encourage corporate investment in Korea and help lower some burden on local firms.
Seo Eun-kyung outlines the changes to come.
The Ministry of Economy and Finance has introduced a revised tax code starting in 2020, focusing on providing tax incentives to Korean companies.
The aims of the changes are to cultivate new technologies, create jobs and boost the domestic economy.
Recent sluggish corporate investment in Korea and slumping global trade have largely contributed to the government's decision.
In fact, construction and facility investment in Korea has seen negative growth since the second quarter of last year.
The revised tax code increases the tax credits for facility investment from one percent of the investment to two percent of the investment for large companies.
For mid-sized companies, tax credits increase from 3 percent to 5 percent of investment, and small sized companies will see their tax credits rise from 7 percent of investment to 10 percent of their facility investment.
This change will be applied next year, and is expected reduce the tax burden on companies by nearly 4-hundred-50 million U.S. dollars.
The new tax plan also includes tax incentives for employment crisis areas suffering from large-scale bankruptcy or restructuring of enterprises.
Currently, any companies that open their businesses in those areas will be one-hundred percent exempt from paying corporate tax for five years.
The revised tax code will also give these firms a 50 percent tax cut for the following two years.
In addition, the revised tax plan offers extended tax support to SMEs which hire women whose careers have been interrupted.
Seo Eunkyung, Arirang News.