<The Anchor> The

government decided to lower the securities trading tax from next year, and from 2023, to tax only if the money earned from domestic stock investment exceeds 50 million won. In addition, for high-income earners with an annual income of more than 1 billion won, a maximum income tax section with a 45% tax rate is newly established.

Reporter Hwagang Yoon reports.

<Reporter> The

government decided to cut the securities trading tax from 2022 through the financial tax reform plan announced last month, and to tax the excess when the money earned from domestic stock investment exceeds 20 million won.

When the president ordered the supplement, an amendment came out.

The securities trading tax is set to be reduced by 0.02 percentage points starting next year.

Financial investment income tax is introduced from 2023.

We decided to deduct up to 50 million won a year by adding up the equity-type fund profits and the gains on the transfer of publicly traded stocks.

[Hongnamgi / Deputy Prime Minister: The majority of stock investors 97.5% excluding the top 2.5% will appear to shrink while enjoying the tax free benefits on stock capital gains - such as the securities transaction tax burdens significantly -

a year in order to strengthen the redistributive function We decided to create a section on the highest tax rate for income tax that applies to a 45% tax rate for high-income earners with incomes exceeding 1 billion won.

The Ministry of Strategy and Finance estimates that the highest tax rate is subject to 11,000 people and 0.05% of income taxpayers.

In order to increase the vitality of consumption stagnated by Corona 19, the credit card income deduction limit was increased by 300,000 won, and the standard tax exemption tax base was expanded to 80 million won annually to ease the tax burden of small business owners and self-employed persons.

The income for cryptocurrency transactions such as Bitcoin will be taxed starting from the transaction in October next year and the individual consumption tax on liquid e-cigarettes will be raised.

The proposed amendment will be submitted to the regular assembly on September 3rd after the State Council meeting.