Recent Regulations on Tax Holiday Incentives and Super Tax Deduction for R&D Activities

The government has recently revised the regulations on the granting of tax holidays for pioneer industries. The revisions cover several important changes. Moreover, this edition discusses the provisions on super tax deduction for R&D activities as well as the procedures for the implementation of advance pricing agreements. Other recent regulations are also reviewed, including import facilities for goods related to the handling of Covid-19, procedures for selecting tax application service providers, electronic payment and remittance of customs excise, imports or exports of prohibited and restricted goods, and the latest updates pertaining to the trial proceedings at the Tax Court.

Contents

• Changes to the Provisions on Tax Holiday
• Super Tax Deduction for R&D Activities
• Procedures for the Completion of Applications, Implementation, and Evaluation of APA
• Reduction of the Types of Goods Related to the Handling of Covid-19 Entitled to Import Facilities
• Procedures for the Selection of Service Providers and Addition of Tax application Services
• Electronic Payment and Remittance of Customs Excise
• Restipulation of the Provisions on Imports or Exports of Prohibited and/or Restricted Goods
• Provisions on the Implementation of Trial Proceedings at the Tax Court