Kim Chang-gi, Commissioner of the National Tax Service, "Will continue tax support to back small and medium enterprises' overseas expansion"

National Tax Service Holds Meeting with Exporting Small and Medium Enterprises

Kim Chang-gi, Commissioner of the National Tax Service, stated on the 24th, "We will continue to provide tax support to back the overseas market expansion of domestic small and medium-sized enterprises (SMEs) with excellent technological capabilities and to improve their business conditions."

On the same day, Commissioner Kim visited the Korea Export National Industrial Complex in Incheon Metropolitan City and held a meeting with SMEs in the machinery, electrical, and electronics sectors, which are among the leading export industries of Korea.

This meeting was organized to explore support measures needed by SMEs by visiting the industrial sites in the Incheon area, which has shown steady export growth since 2022 amid a recovery in exports turning positive for the first time in 13 months last month.

At the meeting, Commissioner Kim explained, "Through the newly established 'Future Growth Tax Support Center' this year, we have been continuously providing tax support to export SMEs, and in the second half of the year, we expanded the scope of support. We are strengthening comprehensive support to back SMEs striving to boost exports by exempting export SMEs from regular audit selection to reduce tax verification burdens, extending payment deadlines, and prioritizing pre-assessment of tax credits for research and human resource development expenses."

One of the participating companies, Lee Sang-yoon, CEO of Myeongyun Electronics Co., Ltd., requested, "To enhance competitiveness in the global market, technological innovation is essential for SMEs, so it is necessary to expand the scope of tax credits for continuous research and development." Other participating companies proposed easing personnel requirements for research and human resource development tax credits and expanding tax credits for companies that increase employment.

In response, Commissioner Kim said, "We will actively review the opinions raised at the meeting and consult with relevant ministries to prepare support measures that entrepreneurs can feel directly."

Kim Chang-ki, Commissioner of the National Tax Service, is speaking at a meeting with export small and medium-sized enterprises held at Bupyeong Woolim Lions Valley.

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