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The People's Power and the government agreed on the need to actively respond to the tax reform issue in order to enhance the vitality of the private economy and stabilize the livelihood of the people at a time when there are concerns about slowing growth due to internal and external high inflation factors.
In particular, the People's Power, the ruling party, ordered the government to prepare measures to stabilize the livelihood of the people, including easing the income tax burden for the working class and the middle class, normalizing the real estate tax system, and benefiting employees from food expenses tax deductions.
In addition, at a briefing after the party's consultation with the party, policy chairman Seong Il-jong said that he had requested that companies actively review corporate tax cuts and tax system reform, as well as easing of inheritance deduction requirements for small and medium-sized enterprises.
The People's Power leadership held a meeting with the party government at the National Assembly in the morning with Choo Kyung-ho, Deputy Prime Minister of Economy and Minister of Strategy and Finance, and discussed the direction of tax reform for 2022.
"(The party) agreed that the tax system is deviating from the global standard and the tax competitiveness is lowered," said Sung, the policy chairperson. shared," he added.
"We shared the perception that the tax system should be reorganized in line with tax principles to enhance economic vitality and support the economic stability of the people's livelihoods," he said.
First of all, he said, "The party has requested a story to actively (review) measures to alleviate the income tax burden on the working class and the middle class, who are struggling in the high inflation situation."
Regarding specific measures to ease the income tax burden, he said, "If possible, I would like to give as many benefits to those with lower incomes, and I asked for a wider range. It can be seen that it expands,” he explained.
Regarding the real estate tax system, he said, "We also talked about the need to normalize the punitive tax system that has been used excessively for the purpose of managing the real estate market."
The chairperson of the gender policy committee also said, "Salary workers are currently experiencing a lot of difficulties. So, I strongly requested a tax deduction for the price of salaried workers already proposed by Rep. Song Eon-seok." "The party will actively promote this part." .
Regarding the direction of corporate tax reform, he explained, "We requested that the corporate tax cut and tax system reform be necessary to secure the capacity of companies to create investment and jobs."
When asked about the extent of the corporate tax cut specifically requested by the party, the chairperson of the sex policy committee said, "I said that it would be good to set it at an international level that is in line with the OECD (Organization for Economic Cooperation and Development) average." "The government will announce the details." told
Earlier on the 13th, Deputy Prime Minister Choo said, "Korea's corporate tax is very high compared to the average of major OECD countries.
In the process of tax reform, the Chairman of the Sung Policy Committee also explained that he conveyed the opinion that a review is necessary in the direction of strengthening the competitiveness of small and medium-sized enterprises and alleviating the burden of family business succession.
Specifically, he said, “Although the requirements for corporate inheritance deduction have been continuously relaxed, it is also true that many small and medium-sized enterprises (SMEs) are still experiencing difficulties in succession due to the high inheritance tax burden. “, he added.
When asked about the expected size of the target if the corporate succession-related tax reform is implemented, the chairperson of the Sung Policy Committee replied, "When the government announces the number of companies, the number of companies will be announced."