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, ‘The presidential office expressed its position that only ultra-high-price single homeowners and multi-homeowners with very high total prices should be subject to comprehensive real estate tax, and that the inheritance tax rate should be significantly reduced to a maximum of 30% considering the average level of the Organization for Economic Cooperation and Development (OECD).’,
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, ‘Sung Tae-yoon, policy chief of the presidential office, appeared on KBS’ ‘Sunday Diagnosis’ and said, “Basically, stabilizing housing prices has little effect, but there is a considerable factor that shifts tax burden to tenants, so it is necessary to abolish or completely overhaul the comprehensive real estate tax.” It was mentioned.’,
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, ‘Director Sung explained, “The comprehensive real estate tax is used for the purpose of local government funding, but in fact, the property tax fulfills that function, so it is desirable to integrate the comprehensive real estate tax into the property tax to solve the problem of double taxation.” He said, “It is desirable to abolish the comprehensive real estate tax system and partially absorb it into the property tax when necessary.”‘,
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, ‘It means that the comprehensive real estate tax will be abolished for general homeowners and multi-homeowners whose total value of single homes is not very high, and only ultra-high-price single homeowners and multi-homeowners with very high total home values will continue to pay the comprehensive real estate tax.’,
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, ‘Director Sung also said, “There is also criticism that multi-homeowners are being antagonized, and it is not desirable for the tax burden on these low-price multi-homeowners to become excessively high, as they are also providers of monthly rent and constraining their supply could have negative effects.”‘,
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, ‘Regarding the inheritance tax, Director Sung stated, “It is necessary to lower the inheritance tax rate to the OECD average level and then make changes to the form of estate acquisition tax or capital gains tax.”‘,
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, ‘Director Sung said, “Our country’s highest inheritance tax rate is very high at 60% including the additional tax for major shareholders, and even without the additional tax for major shareholders, it is 50%,’ adding,’ Since the OECD average is estimated to be around 26%, a reduction to around 30% is needed.”‘,
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, ‘He also mentioned, “The current inheritance tax system poses significant issues for business succession due to the high tax rate, and many countries are transitioning to a capital gains tax system that imposes taxes not at the time of business inheritance, but at the time of selling or cashing out the business in the future.” he said, ‘Overall reform to transition to a capital gains tax is needed in our country as well.”‘,
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, ‘In reforming the inheritance tax into an estate acquisition tax or capital gains tax form, Director Sung stated that additional work is needed, so reducing the tax rate to the OECD average level and raising the unified deduction limit for children and spouses in inheritance tax are the first steps, saying, “It should be adjusted to a level where inheriting a single Seoul apartment does not incur excessive inheritance tax burden.”‘,
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, ‘Director Sung also stated regarding the financial transaction tax, “The government will make maximum efforts to abolish it,” and added, ‘Abolishing it is desirable to transition our country’s capital market into a productive one and encourage foreign stock investments to flow into the domestic stock market.”‘,
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, ‘(Photo=Yonhap News)\n’