Promotion of Tax Exemption for Pharmacy Public Mask Sales... Amendment Proposed

Assemblyman Park Hong-geun Proposes Amendment to the Restriction of Special Taxation Act

[Asia Economy Reporter Kim Hyunjung] A bill providing tax support such as income tax reduction for pharmacies selling public masks has been proposed.

Park Honggeun, a member of the Democratic Party and head of the COVID-19 National Crisis Overcoming Committee's Mask Task Force, announced on the 24th that he has proposed a Special Tax Treatment Control Act exempting value-added tax and income tax on public masks sold at pharmacies.

This bill was prepared as a reasonable compensation effort for the stable establishment of the 5-day mask purchase system at pharmacies, which are responsible for most of the distribution and sales of public masks. Tax support for pharmacies selling public masks was promised at the party level before the general election by Lee Nakyeon, the election committee chairman, and Lee Inyoung, the floor leader, and the bill proposal is a follow-up measure accordingly.

The bill includes exemption from value-added tax on public masks and a tax reduction proportional to the sales ratio of public masks when calculating business income tax.

Park Honggeun said, “The distribution of public masks and the establishment of the 5-day mask purchase system greatly contributed until the domestic COVID-19 confirmed cases stabilized,” adding, “This institutional support plan was prepared to repay the pharmacists’ voluntary leadership and dedication and to request cooperation so that masks can be stably supplied in the future.”

This content was produced with the assistance of AI translation services.