South Korea signals broad tax lifts

South Korea signals broad tax lifts

South Korea requires raising taxes broadly on the general population, and with the affluent taxed to a greater degree for the purpose  paying for more jobs as well as welfare programs, as the head of the country's presidential jobs committee, Lee Yong-sup informed on Thursday.

The statesman told that advanced countries are used to collecting approximately 25% of GDP in taxes. In 2017, South Korea’s tax burden hit 19.3%. It’s absolutely wrong, the statesman told. +

Lee told that affluent South Koreans ought to pay more taxes, though the statesman didn’t specify the taxes, which would be lifted first.

It turned to be the first official hint of scheduled tax increases by the administration of President Moon Jae-in. This liberal took office on May 10.

Previous authorities have grappled with tax hikes, though negative public sentiment along with a general slowdown in the South Korean economy had made it extremely difficult to impose higher taxes.


British employees will face new hit to spending power in 2018

UK employees are expected to face another hit to their spending power next year, while the vast majority of their peers in the world's other well-developed economies will enjoy small gains, as human resources company Korn Ferry informed on Tuesday…


Bank of Canada Meeting

The Bank of Canada will publish its rate statement at 17:00 MT time on December 6…

promotions you can be interested in

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera