<Anchor> The

government announced an amendment to the tax law to be submitted to the National Assembly in September this year. Social solidarity and redistribution of income, the government summarized. With fiscal spending significantly increased with Corona 19, it would be a way to ease the burden on the vulnerable and small and medium-sized businesses by collecting more taxes on those with relatively limited capacity. To do this, we decided to increase the highest income tax rate and take more real estate tax on people with multiple homes. Instead, the number of self-employed people who are exempt or pay less VAT increases significantly. In addition, there has been controversy over the taxation of money earned from stock investments, so this revision included an increase in the tax exemption limit on investments to 50 million won and the advancement of the time to lower the securities trading tax. Overall, it is an assessment aimed at wealthy people with relatively low tax resistance.

First, reporter Yoo Duck-ki will deliver the main contents of the proposed amendment to the tax law.

<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… . To strengthen social solidarity and income redistribution after a lot of hard work… .]

As announced by the Real Estate Measures, the high-income homeowner's and multi-homeowner's tax rates also rise.

The general final tax rate is increased by 0.1~0.3% points, 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 threshold for VAT payment exemption also increases to 48 million won in annual sales.

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

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

The government is in a position that the tax increase cannot be seen as a tax increase due to the tax reform.

However, it seems difficult to avoid pointing out that instead of the'degree' of cleaning up the entire tax system, such as the reduction of tax exemption, the easy justification of the'tweezers' wealth increase.  

(Video coverage: Jung Seong-hwa, Mincheol Kim, Video editing: Jong-tae Kim, CG: Soo-in Cho)

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