Agricultural Corporation

                                                                                                                 Written by Jae Sun,Kim

                                                                                                                 14^th June 2017.

1.Outline

 Agricultural corporation divided into farmingassociation corporation and agricultural company corporations.

2.Condition for establishing

1) Farming association corporation

 - It is applied to the rule for association inthe civil law.

 - Initiator : more than 5 farmers.

2) Agricultural company corporation

 - Initiator : 1 farmers. Shareholders can becollected freely and transferring share is free. If non farmers invest capital,farmers should have at least 10% shares.

3. Tax Issue

1) Farming association corporation

 - Corporate tax is exempted for farm crops income.

 - Tax is exempted for dividend of farm crops income.

 2) Agricultural company corporation.

 - Corporate tax is exempted for farm crops income.

 - dividend income tax is exempted within 12,000,000for business incidental income. Withholding tax rate 5% will be applied to theamount exempted income tax.