Article 72 (Taxation Special Cases for Cooperative Corporations, etc.)

The corporate tax on the income of each business year of a corporation falling under any of the following subparagraphs shall be taxed at a rate of 100분의 9 [or 100분의 15 for the excess portion, if the amount exceeds 2 billion won (in the case of a merger of cooperative corporations before December 31, 2016, the amount of 4 billion won shall apply to the business year in which the merger registration date of the newly established or surviving cooperative corporation falls and the following business year)], by applying the calculation method, including the amount that is not deductible as an expense according to the provisions on the calculation of expenses, such as disallowed donations under Article 24 of the Corporate Tax Act (limited to those related to the taxable business of the corporation) and disallowed business promotion expenses under Article 25 of the same Act (limited to those related to the taxable business of the corporation) as prescribed by Presidential Decree, to the net profit of the current period [meaning net profit before deduction of corporate tax, etc.] on the financial statements of the corporation, up to the business year ending on December 31, 2028, notwithstanding Articles 13 and 55 of the Corporate Tax Act. This shall be referred to as "net profit taxation" in this Article. Provided, that if the corporation waives net profit taxation in accordance with Presidential Decree, net profit taxation shall not be applied to subsequent business years. <Amended by 1999.12.28, 2000.10.21, 2000.12.29, 2001.12.29, 2003.12.30, 2004.12.31, 2005.12.31, 2006.12.30, 2008.12.26, 2010.1.1, 2013.1.1, 2014.1.1, 2014.12.23, 2015.12.15, 2016.12.20, 2017.12.19, 2020.12.29, 2022.12.31, 2025.12.23> 1. Credit unions established under the Credit Union Act and Saemaul Undong Community Credit Cooperatives established under the Saemaul Undong Community Credit Cooperative Act 2. Cooperatives and cooperative joint ventures established under the Agricultural Cooperatives Act 3. Deleted <1999.12.28> 4. Cooperatives (including fishing villages) and cooperative joint ventures established under the Fisheries Cooperatives Act 5. Cooperatives, business cooperatives, and cooperative federations established under the Small and Medium Business Cooperatives Act 6. Forestry cooperatives (including forestry communities) and cooperative joint ventures established under the Forestry Cooperatives Act 7. Leaf tobacco production cooperatives established under the Leaf Tobacco Production Cooperatives Act 8. Consumer cooperatives established under the Consumer Cooperatives Act

Deleted <2013.1.1>

For the application of paragraph ①, in cases where acquiring cooperatives and acquiring cooperatives (hereinafter referred to as "acquiring cooperatives, etc." in this Article) under Article 86-4 (2) of the Credit Union Act and Article 80-2 (2) of the Saemaul Undong Community Credit Cooperative Act, which are credit unions and Saemaul Undong Community Credit Cooperatives under subparagraph 1 of the same paragraph, received financial support for the performance of contract transfer (referring to support by receiving interest-free loans from the depositors protection fund and depositors protection reserve under each Act and depositing them in the National Federation of Credit Unions or the National Federation of Saemaul Undong Community Credit Cooperatives, receiving regular interest, and then repaying them) by December 31, 2015, in accordance with Article 86-4 (3) of the Credit Union Act and Article 80-2 (3) of the Saemaul Undong Community Credit Cooperative Act, and where such funds are managed separately in a manner prescribed by the Ministry of Economy and Finance Ordinance, the interest generated from depositing such funds may not be recognized as revenue when calculating net profit for the current period. In this case, if the acquiring cooperatives, etc. incur expenses and account for the interest as an expense (in the case of expenditure for asset acquisition, it refers to accounting for it as depreciation or book value at the time of disposal), such interest shall not be recognized as an expense. <Newly inserted by 2013.1.1, 2025.10.1>