Eligibility | Laws & Regulations of Tax Reduction and Exemption or Tax Incentives |
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Businesses in the Technology Industrial Parks |
Subparagraph 3 of Paragraph 1 of Article 21 of Act for the Establishment and Administration of Technology Industrial Parks Businesses in the Parks shall be exempted from the following taxes:
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Private institutions participating in transportation infrastructure projects |
Land value tax, house tax leviable on real estates during the period of building and operation of the approved transportation infrastructure project, and deeds tax leviable on real estates at the time of procurement, may be appropriately reduced or completely exempted as the case may be, provided that said real estates are for direct use by a private entity eligible for encouragement under this Statute. |
Private institutions participating in infrastructure projects |
Article 39 of Act for Promotion of Private Participation in Infrastructure Projects The land value tax and the housing tax leviable on the real estate for direct use by a private institution during the building or operations of a major infrastructure project in which the private institution participates, and the deed tax leviable at the time of acquisition of such real estate may be reduced or completely exempted at the discretion of the authorities. |
Financial institutions |
Subparagraph 1 of Paragraph 1 of Article 13 of The Financial Institutions Merger Act Where the merger of Financial Institutions is approved by the Competent Authority, the Surviving Institution or the Newly Incorporated Institution may, when applying for amendment registration of the real estate owned by the Extinguished Institution, its movable properties that require registration and all encumbrances, directly process the registration against the certificate issued by the Competent Authority, without paying registration fees, in the following manner:
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Financial holding company or its subsidiary |
Subparagraph 3 of Article 28 of Financial Holding Company Act After being approved by the competent authority to convert into a financial holding company or a subsidiary of a financial holding company, a financial institution shall comply with the following provisions:
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The asset transfer made in accordance with the asset trust securitization plan |
Subparagraph 1 of Paragraph 1 of Article 38 of Financial Asset Securitization Act For the asset transfer made in accordance with the asset trust securitization plan approved by or effectively registered with the competent authority pursuant to this Act, the taxation shall be dealt with as follows:
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Companies engaging in merger/consolidation and acquisition |
Subparagraph 2 of Paragraph 1 of Article 39 of Business Mergers And Acquisitions Act In carrying on a division or the acquisition of assets or shares by a company pursuant to Articles 27 through 30 of this Act, with the shares entitled with voting rights as the consideration to pay the company so merged/consolidated and acquired while such shares are at a value not less than sixty-five percent of the total consideration, or where a company is carrying on the merger/consolidation, the following shall apply:
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Owner of building located in new town special area |
Article 25 of New Town Development Act After the buildings in a new town special area are completed, the housing tax, land value tax, and deed tax will be exempted in the first year, and reduced by 80% in the second year, 60% in the third year, 40% in the fourth year, and 20% in the fifth year, and no reduction will be offered since the sixth year. |