2024-05-29 19:54:13
On the twenty eighth, the Individuals Energy Celebration proposed reforming the general actual property tax system, together with easing the great actual property tax (complete actual property tax) tax burden, throughout this yr’s common Nationwide Meeting session. It’s interpreted that the Democratic Celebration of Korea is responding to the latest dialogue of abolition of complete actual property tax, comparable to ‘abolition of 1 dwelling for precise residence’, which has surfaced.
Coverage Committee Chairman Jeong Jeong-sik stated at a flooring plan assembly held on the Nationwide Meeting on this present day, “I suggest to the opposition occasion to comprehensively reexamine the general actual property tax system, which has been distorted by the great actual property tax, and reform it in keeping with tax ideas.” He added, “The ruling and opposition events will put their heads collectively and collect knowledge to carry this yr’s common Nationwide Meeting “I hope we are able to give you a plan to fully reform the true property tax system,” he stated.
Coverage Committee Chairman Jeong claimed, “Because of the punitive taxation imposed by the final Moon Jae-in administration, saying it could management housing costs by means of taxes, the variety of taxpayers dealing with a tax bomb has elevated dramatically.” Coverage Committee Chairman Jeong explains that the variety of individuals topic to complete housing tax has practically tripled from 332,000 to 931,000 in 2021 in comparison with 2017, and taxes have elevated 11-fold from 400 billion gained to 4.4 trillion gained.
Coverage Committee Chairman Jeong stated, “Landlords tried to compensate for the growing tax burden by elevating jeonse and sale costs, which ended up giving rise to unusual phenomena comparable to sensible homes and younger funding,” and added, “We should break free from viewing actual property as a political body relatively than a market to keep away from irregular taxation. “The system might be corrected,” he emphasised.
Coverage Committee Chairman Jeong stated, “Our authorities and the ruling occasion have been pushing for measures to ease the tax burden, comparable to decreasing the great tax charge and elevating the fundamental deduction quantity, however failed to realize passable outcomes because of the massive opposition occasion’s passive perspective throughout discussions on the Nationwide Meeting.” “Because it has been nearly 20 years for the reason that complete actual property tax was launched, now’s the time to reexamine whether or not the great actual property tax is appropriate for our financial state of affairs and actual property situations,” he stated. He continued, “We actively welcome the change in place from the opposition occasion, which has been passive about easing the great actual property tax burden.”
Nevertheless, Coverage Committee Chairman Chung drew a line on the ‘abolition of complete actual property tax on one dwelling for precise residence’, which is being mentioned within the Democratic Celebration. He identified, “Exemption from complete actual property tax for individuals who personal a single dwelling might trigger controversy over equity, and if complete actual property tax is totally abolished, there could also be considerations a couple of lower in tax income as the true property grant tax will probably be used completely in native areas.”
Reporter Kim Jeong-hyeon Picture Information 1
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2024-05-29 19:54:13