Korea Joongang Daily
Korea JoongAng Daily

DP accepts changes to comprehensive real estate tax law

Owners of two apartments in designated areas had been paying 1.2 percent to 6 percent, which is charged to people with three or more apartments everywhere in Korea. Under the proposal, it will be reduced to the lower rate of 0.6 to 3 percent.

2022-12-12

Yoon tax plan designed to help the people and the economy

Tax reforms being pushed by the administration are designed to undo the damage done by the previous administration's tax policies, the Yoon Suk-yeol government says.

2022-07-21

Taking the ax to taxes is the focus of a bill being drafted

Since taking office in May, the Yoon Suk-yeol government has been pushing strongly for lowering the corporate tax from 25 percent to 22 percent.

2022-07-18

Tax break

The National Assembly passed a bill revising the comprehensive real estate tax on Tuesday. Under the bill, single apartment owners will be taxed on apartments with assessed values exceeding 1.1 billion won ($943,000) instead of 900 million won

2021-08-31

Tax reform proposal offers credits to businesses hit by Covid-19

Latest tax reform proposals aim to support people that have been most affected by the Covid-19 pandemic including small- and medium-sized enterprises as well as small businesses forced to close due to the pandemic.

2021-07-26

Samsung Electronics could be hit by OECD tax plan

Korea has signed on to the global tax plan designed to rein in the tech companies and get them to pay their fair share. It is also trying to make sure its major companies don’t get caught up in the rush to tax.

2021-07-05

Tax reform and inclusiveness recommended by the OECD

Tax reform is inevitable considering the fiscal pressure that Korea faces especially from the aging population the head of the OECD said. He also supported selective support emergency relief grants.

2021-02-17

Gov't blinks on new capital gains tax

The tax will be applied on yearly profits exceeding 50 million won ($42,000), not 20 million won as originally announced. And a part of the tax will come in a year later than originally planned.

2020-07-22