[Economy 365]

National tax reductions received by top large corporate groups increased by more than 80% last year compared to the previous year.

According to the tax expenditure settlement report submitted to the National Assembly by the Ministry of Economy and Finance, national tax reductions for enterprise groups subject to cross-shareholding restrictions stood at 4.2685 trillion won last year, up 81.8% from the previous year.

Their share of total corporate national tax reductions also rose from 9.8% to 16%.

Total corporate tax reductions increased by 2.7021 trillion won from the previous year, with 71.1% of the increase coming from the top corporate groups.

On the other hand, tax reductions for small and medium-sized enterprises (SMEs) rose 4.3% to 18.8301 trillion won, while their share of the total fell from 75.1% to 70.4%.

The Ministry of Economy and Finance explained that the increase was driven by larger tax credits resulting from expanded corporate investment and a recovery in business performance.

*This article was produced with AI audio.