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S. Korea looking to expand number of firms eligible for minimum corporate tax rate Updated: 2022-06-27 12:32:03 KST

The South Korean government is looking to ease the burden on companies by applying the minimum corporate tax rate to more firms.
The Ministry of Economy and Finance said on Monday that the move is aimed at mainly helping small and medium-sized companies.
The minimum corporate tax rate stands at 10 percent.
Currently, that rate is applied to firms that make less than about 155-thousand U.S. dollars per year.
But should the changes be passed, this threshold would be increased.
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