National Assembly to Address Unfair Tax System

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National Assembly to Address Unfair Tax System

At the National Assembly audit of government operations political representatives indicated that the tax system was flawed and the inherent unfairness became serious once the nation hit the economic crisis and the IMF bailout.
Rep. Park Jung Hun of the National Congress for New Politics (NCNP) said, 'The tax burden of the lower 20% of the population in terms of income increased by 3.9% whereas that of upper 20% decreased by 3.8%.
The percentage of indirect national tax will rise from 54.4% to 58.6%, according to the revisions of the tax code in 1999.'
Rep. Kim Jong Hak of the United Liberal Democrats (ULD) indicated, 'The whole income structure and requisite taxes becomes more unfair day by day.' The representatives asked the government why it cannot improve the unreasonable tax code. They also worried that the country's social structure will be polarized and the middle class disappear. Lee Kyu Sung, the Minister of Finance and Economy answered, 'Indirect taxes increased due to the car and gasoline tax. We will secure fairness in the tax code revision for 2000.'
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