Rep. Ahn Proposes Bill to Extend Stamp Duty Exemption for Startups by Two Years

Rep. Ahn Cheol-soo of the People Power Party has proposed legislation to extend by two years, until 2028, the exemption from taxes (stamp duty) levied on loan-related documents, aiming to alleviate the financial burden on early-stage companies.

This benefit was slated to expire at the end of this year. If the amendment passes, the stamp duty exemption for taxable documents such as certificates, passbooks, and contracts issued when obtaining loans from financial institutions within two years of founding will continue until December 31, 2028.

Rep. Ahn stated that he hopes such measures will reduce the burden on new entrepreneurs and allow them to focus solely on research and management.