North Korea is modifying a series of laws related to foreign investments.

The KCNA announced on February 9 that the “Foreign Investment Bank Law” was modified and supplemented. According to the report， the amended law included “those businesses in operation for over ten years are exempt from income tax on the profit collected in the first year and Bank of Chosun [Bank of North Korea] will be exempt from business taxes on the interest revenue collected from loans provided to companies on favorable terms.”


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