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The government's review of the 2018 tax bill, confirmed on July 30, showed a big difference compared to the "Reduce the tax burden of small and medium-sized businesses and reduce the burden High Income Taxpayer and Large Corporations Tax Is Still the Same,
The Redistribution of Income and Employment Have Been Most Highlighted in the Tax Law Review
R & D on New R & D growth technologies) · Incorporation of innovative growth, including increased support for commercial taxation, but this was not enough to boost business vitality.
taxes in 10 years
The first visit of the government Moon Jae-in to the government is due to the government's decision to increase tax burdens on bituminous coal and reduce natural gas liquefied rel (LNG)
The corporate tax rate applied to large corporations whose annual pre-tax profit exceeded 200 billion won (the last was changed to "more than 300 billion won") in the National Assembly) has been revised to 22% to 25%. The income tax rate applied to people who earned more than 500 million won went from 40% to 42%.
The revision of the tax law also included several factors, including a change in the total property tax (an increase of 900 billion won). However, the effect of tax revenues decreased by 2.5 trillion won in five years due to a decrease in the number of incentives (down 2.60 trillion won) and the Incentive for children (decrease of 300 billion).
This is the first since 2008. At that time, the Lee Myung-bak government introduced an amendment to the tax law that drastically reduces the total property taxes and corporate tax, resulting in a tax-cutting effect of 21.3 trillion won over five years.
This is because income redistribution and work support have become urgent tasks.
However, the government explained that it is difficult to see tax reform as a "tax cut" that reduces taxes.
The main reason for the effect of tax reduction is the increase in subsidies for work incentives and children, which are clbadified as tax expenditures (do not pay the government tax for achieve specific policy objectives) rather than tax reductions. . According to the Ministry of Strategy and Finance, the effect of tax reform, to the exclusion of work incentives and child support, is increased by $ 430.5 billion.
Kim Dong-yeon, Deputy Prime Minister and Deputy Minister of Economic Affairs "The impact on revenue will be low, since it will be taxed before it is realized."
◇ Income Redistribution and Strengthening Employment …
Kim said, "The growth trend of the economy has been maintained in order to reduce the burden on the general public, the middle clbad and small businesses, and the growth rate of large businesses and high-income families.
However, the reform of tax legislation has been more effective than the growth of innovation in income redistribution, job creation and economic growth.
The government has decided to expand the EIT subsidy and payment plan included in the "low-income income and employment support measures" announced on January 18 and included in the amendment of the tax law
Among the newly introduced income redistribution measures, it is applied to △ increase the purpose of the incentive payment of the & [[[[[[[[[[[[[[[[[[[[[[[[[[childtheamountofmoneyandthedeductionoftheamountofmedicalexpensesforpostpartumcarecosts
The Government has included subsistence grants (50,000) as a subsidy for disadvantaged children in low-income households, and an increase in payments (300,000 per child) ~ 50,000 won → 50 ~ 700,000 won). The amount of medical care tax credit is applied to postpartum care costs such as workers (total wages less than 70 million won) and sincere business operators (business income below 60 million won) million won).
At the end of last year, the government announced in turn the incentive to corporate tax and the reduction of income tax (100 % for five years) △ Small and medium-sized businesses returning to childcare leave, staff costs, tax credits, etc. are the main measures.
In the area of innovation growth, the government has introduced new growth drivers such as new growth drivers, new growth engines and new growth drivers. △ Acceleration of amortization of investments in growth of innovation △ Expansion of the tax exemption on employment innovation △ Expansion of the Exemption from the income tax of foreign technicians △ Expansion of the tax deduction for the payment of remuneration
However, it is not enough to support active commercial activities such as the promotion of investment of foreigners. companies.
With the modification of the tax law, the tax benefits received by SMEs amounted to about 380 billion won. The tax burden of large corporations has increased by 570 billion won.
Deputy Prime Minister Kim said, "The revision of this year's tax law is the result of tax reform and the reduction of tax exemption and tax reduction. on corporate income, "We focused on improving the distribution of income and sustainable growth in order to achieve a fair and fair tax policy."
Yusen Sun economic policy reporter ysi @ etnews .com
"Ridiculous price! (F, b, e, v, n, t, s)
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