tax revision Archives | Be Korea-savvy

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

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 [...]