Blockchain Research Now Granted Tax Credit in South Korea

South Korea’s government added blockchain to the fields of research and development eligible for a tax credit meant to boost innovation.

South Korea’s government has added blockchain to the fields of research and development eligible for a tax credit meant to boost innovation, English-language local media TheNews.Asia reports on Jan. 8.

The local Ministry of Strategy and Finance announced the proposed changes to the enforcement decree of last year’s tax law, which will be enforced in February. The proposed amendments also include among the eligible fields wearable robots and fine dust reduction technology.

According to the aforementioned article, a result of this amendment will be that 30 to 40 percent of the research and development expenses of small enterprises and 20 to 30 of large and medium-sized enterprises will be tax deductible.

Currently, the research and development tax deduction rate for large corporations reportedly ranges from 0 to 2 percent, 8 to 15 percent for medium companies and 25 percent for small enterprises.

As Cointelegraph recently reported, some of South Korea’s biggest cryptocurrency exchanges have passed a government security audit, but the majority could still be exposed to attacks.

Also, in December of last year, Cointelegraph reported that two South Korean government ministries have launched a blockchain pilot for port logistics innovation.

COMMENTS

By Readers$type=blogging$cate=2$count=6

Name

Analysis,498,News,2612,Press Releases,338,Sponsored,137,
ltr
item
CryptoNomus: Blockchain Research Now Granted Tax Credit in South Korea
Blockchain Research Now Granted Tax Credit in South Korea
https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9kMjA1MjNjZGNkY2VkYzU5ZTE5MWEzMzZhNjA2ZjdmOC5qcGc=.jpg
CryptoNomus
https://www.cryptonom.us/2019/01/blockchain-research-now-granted-tax.html
https://www.cryptonom.us/
https://www.cryptonom.us/
https://www.cryptonom.us/2019/01/blockchain-research-now-granted-tax.html
true
4884201149675661183
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy