Title : A Study on the Taxation of Agricultural Corporations
Abstract :The Korean government aims to promote capital-driven and technology-intensive agricultural farming by nurturing large agribusiness corporations that can boost sectoral competitiveness using their structural resources. Due to the negative media coverage of the operations of associated agricultural corporations, which is the first type of agribusiness corporation, the government is committed to implementing corrective measures against any transgressions of individual-based agribusiness corporations, which is the second type of agribusiness corporation. Such misconduct includes non-farmers' owning farmland through incorporation and lax administrative monitoring of these agribusiness corporations. However, the established measures are not sufficient to eradicate such wrongdoing. Therefore, the author believes that the government's measures need to be further strengthened to a point where agribusinesses run by non-farmers that seek speculative real estate profits by taking advantage of tax incentives available to agribusiness are identified and forced to dissolve through court orders. Therefore, the submission of an agribusiness registration certificate needs to be required for local taxes as well national taxes to ensure that legally qualified agribusinesses can take advantage of local tax incentives.