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Big tax take boosts prospects for supplementary budget

According to the Finance Ministry on Thursday, through November, the government collected 323.4 trillion won in taxes. It had originally forecast 314.3 trillion in taxes for all of 2021.

2022-01-13

Unavoidable tax hikes

In May 2020, I interviewed Rhee Chang-yong, director of the Asia and Pacific Department at the International Monetary Fund (IMF). Based on the interview, I wrote an article about the IMF issuing a warning about Korea’s resort to...

2022-01-09

Bargain beer

People shop for beer at a discount mart in Seoul on Thursday. According to the Ministry of Economy and Finance, a 855.2 won (71 cent) tax will be levied per one liter of beer starting from April 1, up 20.8 won, or by 2.5 percent, from last year.

2022-01-06

Individuals dump shares ahead of capital gains tax deadline

Individual investors dumped stocks in record amounts Tuesday to avoid the capital gains tax.

2021-12-29

Crypto inheritance tax value calculation changed

Cryptocurrencies inherited or received as gifts will be taxed based on their average daily value over the two months preceding the transfer, the National Tax Service said.

2021-12-28

Candidate Yoon addresses tax system, housing market

Yoon Suk-yeol, the presidential nominee of the main opposition People Power Party (PPP), said Saturday he will fix the country's tax system to stabilize the housing market.

2021-12-26

Future of Sejong Institute looks destitute with latest tax bill

A prominent domestic think tank has been hit with a total real estate tax bill of 2.7 billion won ($2.3 million) this year, raising serious questions about its fiscal viability and broader questions about its management.

2021-12-12

Tax collections through October rise 21 percent on year

According to the Ministry of Economy and Finance on Thursday, in the year through the end of October, collections totaled 307.4 trillion won ($261.5 billion), up 21 percent on year.

2021-12-09

Property capital gains tax break could be passed Wednesday

Korea said Monday it seeks the early implementation of a legislative amendment that will raise the tax exemption limit for capital gains of property sales for single-home owners in a bid to help stabilize the housing market.

2021-12-06

France's Cédric O compares big tech to Robber Barons

Holding forth at the Kukje Gallery café in central Seoul, Cedric O deconstructs what he describes as a grave threat to democracy. We cannot allow the tech monopolies and oligopolies to maintain control over commerce and information, France's ...

2021-11-28

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