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Tax credit when acquiring an overseas vaccine company

By Kim, Jin-Gu | translator Choi HeeYoung

22.07.27 12:08:47

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Government pushes for revision of the Restriction of Special Taxation Act


Starting next year, domestic companies that buy overseas vaccine technology companies are expected to be able to expect corporate tax deductions of up to 10% of the acquisition price.

According to the pharmaceutical industry on the 27th, the Ministry of Strategy and Finance recently finalized and announced the "2022 Tax Reform Plan." The government plans to revise the Restriction of Special Taxation Act after collecting opinions based on the tax reform plan. The tax reform plan includes expanding the scope of tax exemptions following the acquisition of foreign corporations with high-tech technologies to national strategic technologies. Under the current Restriction on Special Taxation Act, tax deduction

Kim, Jin-Gu(kjg@dailypharm.com)
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