Jeju's continued bid to enforce entrance fee to island draws backlash
Jeju’s push for collecting an entrance fee from tourists visiting the island is sparking controversy. The fee, tentatively named the "environment preservation contribution," aims to have tourists share the financial burden of preserving Jeju’s...
Korea's EV investment tax credit going to a maximum 35 percent
Electric vehicle (EV) manufacturing investments could soon be qualified for tax credits totaling 35 percent, the Korea government said Tuesday.
Tax cut on fuel extended until August
Korea extended a tax cut on fuel for another four months as oil prices remain uncertain and inflation stays high.
[Editorial] Don’t fund populism with taxes
Most of all, the government must not think of issuing more debts to cover up for the tax revenue shortage to finance populist policies.
Fuel tax cuts
A self-service gas station is shown in Seoul on Monday. The government is reportedly exploring the possibility of gradually normalizing fuel tax cuts as a way to address decreased tax revenues. [YONHAP]
Tourists back in Korea
An Emart24 convenience store at Seoul posts a note in English and Chinese for foreign customers on Tuesday. Emart24 resumed its tax refund service for foreign customers on Tuesday after three years as more tourists visit Korea.
Revised tax laws sparks return of money earned overseas
Companies are bringing money earned overseas back into Korea, supported by the revised corporate law that eased double taxation.
Finance ministry pushes for passing of chip tax-credit bill
Korea's finance ministry on Tuesday called for the passage of a tax bill centering on providing more incentives for chipmakers, claiming Asia's No. 4 economy should not miss the "golden hour" to revitalize the chip industry.
Actor Kim Tae-hee fined by National Tax Service for advertising fee blunder
Actor Kim Tae-hee was fined an unspecified sum in the millions of won by the National Tax Service, according to local reports Thursday. The National Tax Service conducted an investigation in 2021 on Kim and her then-agency...
Actor Lee Byung-hun fined by National Tax Service
Lee Byung-hun's agency confirmed reports that the actor was fined an unspecified sum following an investigation by the National Tax Service, but claimed the fine was not for tax evasion. “Lee has never had a single tax-related incident over the...