A committee on tax reform approved the 2017 tax revision bill that includes proposed increases to the rates of income tax imposed on high net worth individuals and rates of corporate income tax.
A new top corporate income tax bracket could affect approximately 130 large corporations.
Read a 2017 report [PDF 638 KB] prepared by the KPMG member firm in South Korea
Other developments briefly described in this report include discussions of decisions from the Supreme Court, as follows:
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