July 24, 2006
The Korean government introduced tax reform measures in 2005 with the main focus being placed on furthering economic vitality and boosting growth potential, addressing the issues of aging population and widening gap between the rich and the poor as well as stabilizing real estate market. The tax reforms in 2005 are also designed in a way that ensures broadening tax base through the phase-out of non-taxation benefits and tax incentives, promoting balanced development of all areas of the nation and enhancing convenience for tax payers.
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