SEJONG, Aug. 15 (Korea Bizwire) — The government is considering extending a tax cut scheme on fuel consumption, which is set to expire this month, through December, sources said Tuesday, amid soaring energy costs and high inflation. According to the sources, the Ministry of Economy and Finance has been mulling extending the measure and plans [...]
SEOUL, July 27 (Korea Bizwire) — South Korea unveiled its tax code revision bill Thursday, focusing on providing tax cuts for businesses and reducing financial burdens for the people to counter a prolonged slowdown and revive economic vitality. But the latest tax-cut measures will likely stir up concerns over falling tax revenue. In the first [...]
SEOUL, June 19 (Korea Bizwire) — The government on Sunday announced a package of emergency measures, including additional fuel tax cuts and higher income tax deduction rates for public transit use, aimed at countering growing inflationary pressure. Starting next month, tax cuts on fuel consumption will be expanded to a legal cap of 37 percent [...]
SEJONG, June 18 (Korea Bizwire) — The government has been considering expanding fuel tax cuts, as part of efforts to ease inflation pressure that has been building up amid surging energy prices, according to officials at the finance ministry Saturday. The government has been mulling expanding fuel tax cuts from the current 30 percent to [...]
SEJONG, April 5 (Korea Bizwire) — South Korea will expand tax cuts on fuel consumption as part of efforts to ease inflation pressure that has been building up amid surging energy prices, the country’s top economic policymaker said Tuesday. The government will expand fuel tax cuts from the current 20 percent to 30 percent from [...]
SEOUL, Sept. 16 (Korea Bizwire) — South Korean companies increased hiring of regular workers by more than 14,000 in 2015 in return for government tax benefits, a report said Friday. A total of 2,164 large businesses and smaller companies applied for tax credits after employing a combined 14,109 young regular workers that year, according to [...]
SEJONG, Nov. 2 (Korea Bizwire) – South Korea’s retail sales rose to a 4-month high in September as tax cuts and the Chuseok holiday propped up consumer spending, a government report showed Monday. Retail sales topped 31.13 trillion won (US$27.28 billion) in September, up 4.1 percent from 29.9 trillion won a year earlier and the [...]