A Royal Decree (Issue No. 707) (“Decree”) announced in July 2020 grants SMEs who take out loans under the government’s low-interest credit measures an additional 50% corporate income tax deduction on interest expenses. On 30 December 2020, the Revenue Department clarified the conditions under which SMEs are entitled to the additional exemption, issuing the Notification … Continue reading Criteria for Tax Exemption under Government Loan Measures