tax revision Archives | Be Korea-savvy
Government to Reduce Inheritance Tax and Offer Tax Incentives for Corporate Investment and Marriage

Government to Reduce Inheritance Tax and Offer Tax Incentives for Corporate Investment and Marriage

SEOUL, July 25 (Korea Bizwire) – The government will push to reduce inheritance tax to reflect decades of changes in asset values and inflation, and to provide a tax credit for marriage and childbirth in an effort to boost the ultra-low birth rate, the finance ministry said Thursday. They are part of a tax code [...]

S. Korea to Ease Set of Tax Regulations in Property Market

S. Korea to Ease Set of Tax Regulations in Property Market

SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s finance ministry said Wednesday it plans to revamp a set of tax regulations on the property market to ease the financial burden of people amid soaring borrowing costs. Under the plan, South Korea will allow owners of two homes topay less taxes if they dispose of one [...]

South Korea to Raise Tax Rates for Rich People, Big Firms

South Korea to Raise Tax Rates for Rich People, Big Firms

SEJONG, Aug. 2 (Korea Bizwire) – South Korea will raise tax rates for the “super-rich” and big money-making companies, the finance ministry said Wednesday, in what many see as a move to finance the incumbent Moon Jae-in government’s pledges on job creation and expand social welfare. Under its biannual tax revision plan, which requires approval from [...]