Welcome to Sancheong

Sancheong, the hometown of Mt. Jiri andthe clean town of traditional Asian medicine.

Local Tax Reduction

Reduction for Newly Founded Startup Small and Medium Enterprises

  • Recipient for Reduction : Newly founded startup small and medium enterprises and newly founded startup venture small and medium enterprises
  • Contents : So that newly founded startup small and medium enterprises and newly founded startup venture small and medium enterprises can run their business in the year
  • To reduce taxes on business property obtained within 2 years from the day when business was established, or the registration of the business
    • The Day of Establishment : Corporation (Incorporation Registration Date), Private (License Registration Date)
  • Tax Reduction in Detail and Reduction Rate
    • Acquisition Tax and Registration Tax : 100% exemption
    • Property Tax : 50% reduction for 5 years since date of establishment
  • Related Legislation : Articles 119 ~ 121 of the Restriction of Special Taxation Act

Reduction for Businesses in the Industrial Complex (Agro-industrial Complex)

  • Recipient for Reduction : National industrial complex, local industrial complex, agro-industrial complex, etc.
  • Contents : Reduction for local tax in case to when acquiring buildings for the purpose of using it as a factory or taking over a bankrupt company within the industrial complex for the first time
  • Tax Reduction in Detail and Reduction Rate
    • Acquisition Tax and Registration Tax : 100% exemption
    • Property Tax : 100% exemption for 5 years
    • Related Legislation : Article 276 of the Local Tax Act, Article 23 of Provincial Tax Reduction Ordinance, and Article 24 of County Tax Reduction Ordinance

Reduction for Foreign Investment Attraction Support

  • Contents : To reduce tax on the property that foreign investing companies acquire
  • Tax Reduction in Detail and Reduction Rate : 100% exemption for Acquisition and registration taxes for 15 years and 100% exemption for property tax for 7 years
  • Related Legislation : Article 22 of Provincial Tax Reduction Ordinance and Article 25 of County Tax Reduction Ordinance