New Tax Measures for COVID-19

This newsletter sets out an overview of new tax measures for companies introduced by the ‘Emergency Economic Measures for Covid-19’ based on the above laws, the relevant cabinet orders, ministerial ordinances and related administrative guidance released by the National Tax Agency.

1. Grace Period for Tax Payment
2. Tax Refund by Tax Loss Carryback for Blue-Form Taxpayers
3. Special Provision for Change in Consumption Taxpayer Election and Lifting of Limitation on Exemption from Tax Liabilities
4. Tax Measures for Investment in Telework Equipment by Small and Medium-sized Companies, etc.
5. Special Measure to Reduce Fixed Assets Tax, etc. for Depreciable Assets and Buildings used by Small and Medium-sized Business, etc.
6. Extension and Expansion of Special Measures for Fixed Assets Tax with the aim of Achieving a Productivity Revolution