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The government must come up with more workable and sustainable fiscal visions while upholding conservative government spending and tax scheme.
We need an entirely different approach to the inheritance tax.
Rationalizing taxes to better reflect current conditions will help the economy as well as people.
The Constitutional Court on Thursday struck down inheritance laws that reserve minimum portions of a deceased person's estate for family members.
The Inheritance tax has become a major factor behind the Korea Discount.
LG Group Chairman Koo Kwang-mo and his family lost a lawsuit they had filed against Korea’s tax administrative agency disputing a large inheritance tax amount.
Not even a single bidder took part in the failed second attempt to sell the government's nearly 30 percent stake in gaming giant Nexon.
The Finance Ministry said Monday it will sell its stake in NXC, a holding company known for its video game subsidiary Nexon, valued at an estimated 4.7 trillion won ($3.62 billion).
Since the death of the late Samsung Chairman Lee Kun-hee in October 2020, the family has been paying inheritance taxes in installments for the assets inherited according to a five-year plan. The total inheritance tax amounted to 12 trillion won.
One of the biggest challenges for financial authorities is resolving the “Korea discount.”
Korea JoongAng Daily Sitemap