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Taiwanese and South Korean industrialists call for agreement to end double taxation

45th Joint Conference of Taiwan-South Korea Business Councils discusses easing taxes

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Officials from Taiwan's office in Busan, South Korea. (Busan Taipei Economic and Trade Office photo)

Officials from Taiwan's office in Busan, South Korea. (Busan Taipei Economic and Trade Office photo)

TAIPEI (Taiwan News) — About a hundred manufacturers joined in the 45th Joint Conference of Taiwan-South Korea Business Councils held on Tuesday (Sept. 7), with many calling for a lightening of the tax load associated with bilateral trade.

Taiwan’s Ministry of Economic Affairs said business representatives from both sides hope to sign an agreement in the near future that would alleviate businesses from double taxation and would strengthen measures against tax evasion, according to a CNA report.

Discussion at the conference focused on economic trends in the semiconductor industry, smart cities, as well as biotech and healthcare industries.

Industry players said Taiwan and South Korea have complementary industrial structures, which will serve as the basis for fruitful future collaboration.

The conference comes just one week after Taiwan's representative office in Busan introduced many of Taiwan's top power-grid companies at one of South Korea's biggest annual technology exhibitions.


Updated : 2021-09-24 20:22 GMT+08:00