2 billion won. Photo = provided by the Ministry of Finance
Lee Won Lee, 1st Vice Minister of Strategy and Finance, said on the 19th that “98% of the people have nothing to do with the comprehensive real estate tax.” It draws a line against the growing concern that the comprehensive real estate tax burden will increase significantly.
On the 19th, Vice Minister Lee held the 39th innovative growth strategy review meeting, policy review meeting, Korea version new deal inspection meeting, and 33rd price relations vice-minister meeting at the government complex in Seoul on the 19th and said, “98% of the people do not receive tax bills.” said this “There are exaggerated concerns,” he added.
Vice Minister Lee said, “The deduction rate for the elderly in one household, one house, has been increased up to 80%, and the tax base has also been raised from the published price of 900 million won to 1.1 billion won. It will be alleviated to a large extent in accordance with end-user protection measures,” he said.
However, it is also pointed out that Vice Minister Lee’s remarks overlooked the fact that the 2% estate tax burden affects the entire real estate market. A tax expert at the Korea National Research Institute pointed out, “The burden of taxation can be passed on to rent.”
At the meeting, the 5th disaster subsidy paid from last September and the effect of the fuel tax cut that started on the 12th were also reviewed.
The 5th disaster relief fund announced that it had completed payment to 42.72 million out of 43.26 million beneficiaries. Of the 11 trillion won budget, 10.8 trillion won was paid out. As a result of checking whether the 7.7 trillion won paid by the government through credit card points was used, it was found that 6.6 trillion won had already been used. “The subsidy had a positive effect on the recovery of the sentimental economy,” said Vice Minister Lee. For small business loss compensation, 533,000 of the 615,000 companies subject to expedited compensation applied for payment, and the payment was completed to 525,000 companies.
The effect of lowering the fuel tax was found to be gradually spreading. “As of the 18th, the national average price of gasoline recorded 1,699 won per liter,” said Vice Minister Lee. This is a decrease of 111 won compared to before the fuel tax cut on the 11th, reflecting 68% of the effect of the fuel tax cut of 164 won.
By Kang Jin-gyu, staff reporter josep@hankyung.com
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