As previously reported, South Korea's Ministry of Economy and Finance issued a release on 26 July 2021 providing an overview of the proposed 2021 Tax Revision Bill, which is to be submitted to the National Assembly no later than 3 September 2021. Further important proposed measures include:
- The extension of the flat 19% personal income tax rate for foreign employees that begin working in Korea for the first time by 31 December 2023;
- The extension of the incentive for attracting talented fore…