ARTICLE 132 (EXCLUSION OF REDUCTIONS ETC. FOR TAX LESS THAN MINIMUM TAX AMOUNT)

When calculating the corporate tax (excluding the corporate tax on gains from the transfer of land, etc. under Article 55-2 of the Corporate Tax Act, the tax amount to be paid in addition to the corporate tax under Article 96 of the same Act, the corporate tax calculated by applying the special taxation for the promotion of investment, dividends, and win-win cooperation under Article 100-32, penalties, and recapture taxes as prescribed by Presidential Decree, and referring to the corporate tax before tax credit, etc. as prescribed by Presidential Decree) on the income of each business year of a domestic corporation (excluding the corporate tax on the income of each business year of a corporate cooperative, etc. that receives the application of Article 72 (1)) and the domestic source income of each business year of a foreign corporation that receives the application of Article 91 (1) of the Corporate Tax Act, if the tax amount after applying the reductions, etc. prescribed in any of the following subparagraphs is less than the tax amount calculated by multiplying the taxable income (hereinafter referred to as "taxable income" in this Article) (which is calculated without considering the deductions from expenses and income deductions, etc. under subparagraph 2) by 17/100 [12/100 for the portion where the taxable income exceeds 10 billion won and is 100 billion won or less, 10/100 for the portion where the taxable income is 10 billion won or less, and 7/100 for small and medium-sized enterprises (8/100 for the business year ending within three years from the beginning of the business year in which the small and medium-sized enterprise, for the first time, no longer meets the criteria for a small and medium-sized enterprise as prescribed by Presidential Decree, and 9/100 for the business year ending within the next two years)] (hereinafter referred to as "minimum corporate tax amount"), then the reductions, etc. shall not be applied to the extent of the amount by which it is less than the minimum corporate tax amount. <Amended on Mar. 12, 2010, Dec. 27, 2010, Dec. 31, 2011, Jan. 1, 2013, Jan. 1, 2014, Dec. 23, 2014, Dec. 15, 2015, Dec. 20, 2016, Dec. 19, 2017, May 29, 2018, Oct. 16, 2018, Dec. 24, 2018, Dec. 31, 2019, May 19, 2020, Dec. 29, 2020, Dec. 31, 2022, Dec. 31, 2023, Mar. 14, 2025, Dec. 23, 2025> 1. Deleted <Dec. 31, 2019> 2. Amounts of income deduction, deduction from expenses, non-inclusion in gross income, and non-taxable income under Articles 8, 8-2, 10-2, 13, 14, 28, 28-2, 28-3, 28-5, Article 55-2 (4), Article 60 (2), Article 61 (3), Article 62 (1), Article 63 (4), and Article 63-2 (4). 3. Amounts of tax credit under Articles 7-2, 7-4, 8-3, 10 (limited to those who are not small and medium-sized enterprises; hereinafter the same applies in this Article), Article 12 (2), 12-3, 12-4, 13-2, 13-3, Article 19 (1), 24, Articles 25-6 through 25-8, 26, Articles 29-2 through 29-5, 29-7, 29-8, 30-3, 30-4, Article 31 (6), Article 32 (4), 99-12, 104-8, 104-14, 104-15, 104-22, 104-25, 104-30, 104-35, Article 122-4 (1), and Article 126-7 (8). 4. Exemption and reduction of corporate tax under Articles 6, 7, Article 12 (1) and (3), 12-2, 21, Article 31 (4) and (5), Article 32 (4), 62 (4), 63, 64, 68, 96, 96-2, 99-9, 102, 121-8, 121-9, 121-17, Articles 121-20 through 121-22, and 121-33. However, the following cases shall be excluded: a. In the case of a business year in which the tax amount equivalent to 100/100 of the corporate tax is reduced under Article 6 (1) or (6), 12-2, 99-9, 121-8, 121-9, 121-17, or Articles 121-20 through 121-22, or 121-33. b. In the case of an additional reduction under Article 6 (7). c. In the case of relocation outside the Seoul Metropolitan Area under Article 63. d. In the case of income generated from crop cultivation business under Article 68.

When applying this Act, if the reductions, etc. listed in the subparagraphs of paragraphs (1) and (2) and other reductions, etc. are applied simultaneously, the order of application shall be the reductions, etc. listed in the subparagraphs of paragraphs (1) and (2) first.