July 21, 2022, 7:00 AM
Yoon Suk Yeol government seeks to reduce top corporate tax rate to 22% from 25%, according to a finance ministry statement.
- Comprehensive real estate taxes to be largely restored to levels before 2018; tax waiver for a household owning only one home will be raised to 1.2b won from 1.1b won
- Introduction of financial investment income tax to be suspended until 2025; taxation on virtual assets to be suspended for two years as well
- Duty-free tax waiver to be raised from $600 to $800 per person
- Tax revenues estimated to fall by 13t won following tax law revisions
- Proposal to …
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