Measures to temporarily ease the heavy tax rate on capital gains tax imposed on multi-family homeowners with two or more houses will be implemented after the 10th of the next month after the inauguration of the new government.
The Ministry of Strategy and Finance issued a press release today and said, "It is desirable to implement immediately after the inauguration of the new government" in relation to the policy of excluding the transfer tax for multi-family homes recently announced by the Presidential Transition Committee.
In effect, the transition committee's request to implement the temporary and temporary exclusion of transfer tax on multi-family homeowners for one year from April was rejected.
In addition, the Ministry of Strategy and Finance said, "It is not desirable to change the main policy stance during the current government's tenure so that the issue of equity arises for homeless, single-homeowners, and those who have already sold their homes. It is desirable to promote it in conjunction with various policies according to the comprehensive real estate policy roadmap to be prepared under the new policy framework,” he explained.
In response, the transition committee immediately took a stand and said, "We plan to start revising the enforcement ordinance immediately after the inauguration of the new government and apply it retroactively from May 11."