Notice of CFE’s Redesignation as a Designated Charitable Donation Organization

If you support the Center for Free Enterprise (CFE), individuals may receive a tax credit at year-end tax settlement, and corporations may have the donation recognized as a deductible expense. Your support provides a vital foundation for spreading the free market economy in Korea. <

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- Designation and public notice as a designated donation organization completed in 2022

We are pleased to inform you that, in accordance with the Enforcement Decree of the Corporate Tax Act, the Center for Free Enterprise (CFE) was officially designated and publicly announced by the Minister of Economy and Finance as a public-interest corporation in the 3rd quarter of 2022.

We ask for your continued support and interest going forward.

Thank you.

- All executives and staff of the Center for Free Enterprise (CFE) -

----Benefits of Supporting---

□ Corporations

The full amount is recognized as a deductible expense, up to 10% of corporate income.

□ Individuals

A tax credit of 15% (30% for the portion exceeding KRW 10 million) is available, up to 30% of individual income (10% for religious organizations).

(However, if donated by a sole proprietor, the amount within the same limit is recognized as a necessary business expense.)

※ Applied retroactively to donations made from January 2022 ※

□ Inquiries

Yeonkyeong Kim, Researcher T) 02-3774-5008, E) kyg@cfe.org

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Original title: 자유기업원 지정기부금단체 재선정 안내

Author: Center for Free Enterprise (CFE)

Date: 2022-10-12

Source: https://www.cfe.org/bbs/bbsDetail.php?cid=notice&pn=13&idx=25005