Tax on Robots

South Korea has become the first nation to recognise the potentially damaging effects of a too rapid move towards automating the work-place  link . Although it has been hailed as the ‘World’s first tax on robots’ it is actually not a tax, instead it reduces the tax allowances on new investments in automation. In other words it is aimed at slowing down the pace of automation to give their Government and population more time to adapt to increasing automation.