<Anchor> The

government announced an amendment to the tax law to be submitted to the regular assembly in September. It can be summarized as the tax increase for the rich and the tax reduction of the common people, but the highest tax rate for high-income earners with annual income of over 1 billion won was raised to 45%.

Reporter Yoo Duck-ki explains.

<Reporter>

First, the highest tax rate on income tax is raised.

Now, if the bill exceeds 500 million won, a 42% tax rate is applied, but a section exceeding 1 billion won is created, and a 45% tax rate is applied.

The government estimates that the number of people who are subject to over 1 billion won is over 1,000,000, or 0.05% of those who pay income tax.

The tax raised here is around 900 billion won.

[Hong Nam-ki/Deputy Prime Minister: Corona 19 makes self-employed people, small and medium-sized businesses, and low-income families more difficult… After much deliberation, to strengthen social solidarity and income redistribution... .] As

announced by the Real Estate Measures, the high-income homeowners and multi-homeowners' taxes also rise.

The general closing tax rate is increased by 0.1~0.3%P, and multi-homeowners are increased by up to 2.8% points.

The upper limit of the tax burden on the final income tax of the two homeowners in the reconciled area rises to 300%.

The transfer tax on short-term homes will also increase to a maximum of 70%, and the transfer tax middle tax rate for multi-homeowners in the adjusted area will also increase by 10 percentage points.

Instead, the value-added tax simplified tax base expands to less than 80 million won in annual sales.

The amount of the exemption from payment of VAT also goes up to 48 million won in annual sales.

Through this, 577,000 people will pay less than 480 billion won in taxes.

Also, in order to boost consumption, the credit card use amount deduction limit has been increased by 300,000 won.