Speaking at the weekend, an official from the Korean Ministry of Finance said that overall, corporate income for 2001 has decreased by over 30% from last year.
The government recently painted a gloomy picture of the Korean economy, and has stated that it believes that corporate income tax revenues may continue to slide over the coming years, due in large part to the global economic slowdown.
The official revealed that estimated figures for this year's corporate tax returns stand at around 16.1 trillion won ($12.4 billion), which represents a sharp drop from the 17.8 trillion won ($13.7 billion) collected from the country's business sector in 2000. The Finance Ministry estimates that collection figures for 2002 will be similarly diminished, at around 16.2 trillion won.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment