Chairman Eogigu introduces a revision proposal to extend the sunset clause for agricultural and rural tax and local tax special measures.

Published 2025년 11월 20일

Tridge summary

[Agricultural Fisheries and Livestock Newspaper=Reporter Han-tae Lee] Eogi-gu, the Chairperson of the National Assembly's Committee on Agriculture, Forestry, Fisheries, Food, Marine and Fisheries (from the Democratic Party, Dangjin), introduced on the 18th a revision to the Special Tax Limitation Act and the Local Tax Special Limitation Act respectively, which extend the sunset period of tax and local tax special provisions to ensure the business stability of farmers, fishermen, and livestock farmers and to maintain the living infrastructure in island and fishing villages. This revision includes extending for three years the tax special provisions set to end this year, such as △exemption from land transfer income tax for fishery use △exemption from inheritance tax on farmland for farming children △exemption from value-added tax and special consumption tax on petroleum for self-generation in island areas. Additionally, the revision to the Local Tax Special Limitation Act includes exemption from acquisition tax and property tax for small fishing vessels and fishing rights.

Original content

Chairman Eogigu of the National Assembly's Committee on Agriculture, Forestry, Fisheries and Food (from the Democratic Party, Dangjin) introduced on the 18th a revision to the Tax Special Measures Limitation Act and the Local Tax Special Measures Limitation Act, respectively, to extend the sunset period of tax and local tax special measures for the management stability of farmers and fishermen and to maintain the living infrastructure in island and fishing villages. This revision includes extending the tax special measures, such as the exemption of land transfer income tax for fishery use, the exemption of inheritance tax for farmland for farming children, and the exemption of value-added tax and special consumption tax for petroleum products for self-generation in island areas, which are scheduled to end by the end of this year, by three years. Additionally, the revision to the Local Tax Special Measures Limitation Act includes extending the sunset period of the exemption of ...
Source: Aflnews

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