□ The Tax Programme, OECD Korea Policy Centre hosted the 7th OECD- ASEAN    International Tax Seminar on “Tax Incentives” for six days from February 13 (Monday)   to February 18 (Saturday) in Prima Hotel, Seoul.

□ The objective of this seminar is to provide tax policy makers and tax administrators   with information on and experience with the strengths and weaknesses of offering tax   incentives to attract investment and promote economic activity. Experts from the   OECD HQ, and OECD member countries (Ministry of Finance of Italy and Belgium)   participated as a lecturer and 25 tax officials from 11 non-OECD economies in the   Asia-Pacific region including three Korean officials from the NTS participated in the   seminar.  □ Each country was asked to prepare a short (15 min.) presentation on tax incentives   offered in their country and all participants had an opportunity to discuss the relevant   issues.

Main Contents

□ The main topics which were discussed during the seminar are as follows:

ㅇ Tax incentives and changes after the financial crisis in 2008

ㅇ Conflicting tax policy goals and solutions to the problems

ㅇ Country presentations on tax incentives

ㅇ Tax expenditure budgeting in Italy (case presentation)

ㅇ Tax base broadening and tax incentives in Asian countries       (Group case studies and discussion)

ㅇ Tax Incentives to Lower Tax Wedge on Labour, Tax Incentives and R&D

Ms. Maria T. Monteduro

Ministry of Finance, Italy

“I am very pleased to take part in the 7th OECD-ASEAN seminar as an expert. The seminar was very success because participants were very carefully and passionately followed all the lectures and they all involved in the case studies actively. The seminar was a good opportunity to share views and perspectives on how to design tax incentives all around the world so I expect that they will play an important role in designing and developing their own tax incentives in their countries in the future.”

Mr. Anil Kumar Bharadwaj

Ministry of Finance, India

“My stay in Korea and the 7th OECD-ASEAN seminar were unforgettable memories. I was given an opportunity by the Tax Programme, OECD Korea Policy Centre (KTC) for interacting with many participants from various countries. I seriously thank the KTC and the Korean government. I especially thank the organizers of the KTC. 

In the seminar, I had an opportunity to know about the various tax incentives available in other countries. I also learned about pros and cons of having the tax incentives and economic perspectives regarding the tax incentives, their benefits, their problems, and everything. It would help me a lot in the future while designing some of the tax incentives or giving my opinion on tax incentives in my country. Thank you.”

Opportunity to Experience Korean History and Culture

□ Despite the cold weather in February, all participants had an opportunity to visit main

   tourist attractions including Changdeokgung and Gwanghawmun Square and 

   experienced Korean culture and aspects of economic development.