Satoshi Nakamoto Blog
Image default

Blockchain Research Now Granted Tax Credit in South Korea

South Korea’s government has added blockchain to the fields of research and development eligible for a tax credit meant to boost innovation, English-language local media TheNews.Asia reports on Jan. 8.

The local Ministry of Strategy and Finance announced the proposed changes to the enforcement decree of last year’s tax law, which will be enforced in February. The proposed amendments also include among the eligible fields wearable robots and fine dust reduction technology.

According to the aforementioned article, a result of this amendment will be that 30 to 40 percent of the research and development expenses of small enterprises and 20 to 30 of large and medium-sized enterprises will be tax deductible.

Currently, the research and development tax deduction rate for large corporations reportedly ranges from 0 to 2 percent, 8 to 15 percent for medium companies and 25 percent for small enterprises.

As Cointelegraph recently reported, some of South Korea’s biggest cryptocurrency exchanges have passed a government security audit, but the majority could still be exposed to attacks.

Also, in December of last year, Cointelegraph reported that two South Korean government ministries have launched a blockchain pilot for port logistics innovation.

Source link

Related posts

Wendy McElroy: Silence and Soul in the Crypto Cold War – the Evolution of Privacy – Bitcoin News


Windows 10 will soon let you access Linux files from File Explorer


Graham: Trump’s handling of McCain’s death was ‘disturbing’


How to Use Echo Buttons to Control Smarthome Devices


Trace Mayer Draws Support for Proof of Keys — Celebrating Genesis Block Day


copy and ahead iMessages on iPhone and iPad