"Quasi" Taxes Reached 6.2 Trillion Won Last Year

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"Quasi" Taxes Reached 6.2 Trillion Won Last Year

Quasi taxes spent by Korean companies in a variety of ways recorded 6.2 trillion won last year.
This scale is equivalent to two thirds of the total corporate taxes (9.4 trillion won) assessed for last year.
The Korea Taxation Research Institute held a policy forum on November 19 and said that these forms of taxes, which companies must pay including coercive donations to various institutions run by the government, were calculated to be 6.2231 trillion won. They also said that there were 71 different kinds of these 'quasi' taxes.
A source at the Institute said, ' Quasi taxes are a great burden placed on companies. Therefore, the government needs to abolish the irrational ones by way of a thorough inspection to deem which ones are valid.
Meanwhile, the Institute said that forced donations per company averaged 673 million won last year.
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