The amount specified by Presidential Decree that a domestic corporation paid in excess of actually incurred losses as part of damages shall not be included in deductible expenses, in calculating the amount of income for each business year of the domestic corporation.[This Article Added on Dec. 19, 2017]
Laws › Corporate Tax Act › Sub-Section 3 Calculation of Deductible Expenses
Corporate Tax Act — Article 21-2 (Non-inclusion of punitive damages in deductible expenses)
법인세법 제21조의2
This English translation is based on the Korean text effective 2025-03-14. The Korean law has since been amended (current version effective 2026-07-01) — check the Korean original.
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