Time for a fast conclusion

After losing the by-elections by a landslide, the ruling Democratic Party (DP) is pushing to reverse its hard-line real estate policy. It launched a special committee to address complaints over real estate issues. Rep. Yun...

2021-04-21

Big tax shock for investors in foreign stocks

With capital gains tax reporting season nearing, in May, there are expected to be many more punters facing tax shocks as Koreans trading foreign stocks increased rapidly last year as liquidity flooded the market and stocks soared.

2021-04-19

Property summit

Heads of five local governments meet to discuss the issue of government assessed values of real estate, from which property taxes are calculated, at Seoul City Hall on Sunday. The central government increased the assessed values steeply...

2021-04-18

Don’t invite tax resistance

Although exact data is yet to be released on the filing of appeals over reevaluation of housing appraisals, the count is expected to exceed last year’s 37,000 cases and the record high of 56,000 in 2007. Complaints have been...

2021-04-07

NTS goes after New Town-related tax scams

The National Tax Service (NTS) on Thursday said it is looking into 165 individuals suspected of dodging taxes in relation to New Town projects. The tax agency said it is looking into data dating back to 2013.

2021-04-01

A tax bomb on property

Public rage over the changes in the appraisal value of multi-residential housing is brewing. Residents are collectively protesting to the adjusted rates, including on Jeju Island where re-examination is being demanded as the...

2021-03-24

Residents claiming non-resident status dodge taxes

The NTS noted that some foreigners are enjoying the welfare benefit provided by taxes paid by others living in Korea while failing to pay the taxes they own.

2021-03-24

National Tax Service targets cryptocurrency for the first time

According to the National Tax Services (NTS) on Monday, it recovered 36.6 billion won ($32 million) of unpaid taxes from 2,416 tax evaders who invested in virtual assets including cryptocurrency.

2021-03-15

As promised, gov't raising assessed values, taxes

The average assessed value of apartments nationwide increased 19.08 percent for 2021. This is a big surge compared to the 5.99 percent increase last year and the sharpest increase in 14 years.

2021-03-15

Tax revenue up in January on year as capital gains rise

Tax revenue rose 2.4 trillion won ($2.1 billion) in January from a year earlier due largely to an increase in the collection of capital gains taxes, the finance ministry said Tuesday.

2021-03-09

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