The South Korean authorities are considering the option of providing tax benefits to promising blockchain startups. Details will be known in a week. South Korea hosted a meeting of ministers and heads of government bodies responsible for economic policy. Eventually, officials decided to reduce taxes for those companies that develop innovations. But they have not decided yet how much to reduce them. So far, officials have agreed to simply reduce tax liabilities for those who develop new technologies, especially blockchain. Whether there will be any more significant preferences for the sphere of the distributed ledger – it is not reported. Now in Korea, everything is quite simple – you can invest 5% of your income in research, and 10% of them should be invested in new technologies (for example, blockchain). And you get a tax discount. But there is a nuance – startups do not always earn a lot in the beginning. Therefore, they cannot invest in innovation. So, for beginners, the requirements can be additionally reconsider. It is reported that everything will be known exactly in a week, on July 26. Although most likely the new requirements will begin to work in 2019. |
