South Korea's tax amendments for 2021 were reportedly enacted at the end of December 2020 following their approval in parliament earlier in the month. Some of the main amendments include the following:
- An increase in the allowed loss carryforward period from 10 years to 15 years for corporate taxpayers from 1 January 2021;
- An increase in the allowed carryforward period for excess foreign tax credits from 5 years to 10 years from 1 January 2021;
- Adjustments in the securities (stock) transacti…