Yoon calls for additional tax break for semiconductor industry ...Middle East

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Yoon calls for additional tax break for semiconductor industry
SEOUL: President Yoon Suk Yeol (pix) instructed the government Friday to consider additional tax breaks for the semiconductor and other strategic industries, his office said.Under a recently passed tax code revision, large corporations are eligible for an 8 percent tax exemption on investments in semiconductors and other strategic industry facilities reported Yonhap.The new rate is an increase of 2 percentage points from the current 6 per cent but far below the 20 per cent initially sought by the ruling People Power Party.“It is regrettable that the tax break proposed by the (PPP) semiconductor special committee was not sufficiently discussed,“ Yoon said, according to deputy presidential spo

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