South Korea’s Tax Burden Rate On Course to Hit Record High in 2017

SEJONG, July 26 (Korea Bizwire) – South Korea’s ratio of tax burden to its gross domestic product (GDP) will likely reach fresh record highs this year and next on a potential tax hike and rapidly rising government spending, government data showed Wednesday. According to the finance ministry, the government is expected to collect more than 250 trillion won (US$223 [...]