CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. New South Korean President Outlines Tax Priorities

New South Korean President Outlines Tax Priorities

by Mary Swire, Tax-News.com, Hong Kong

12 May 2017


South Korea's new President, Moon Jae In, says he will take aim at corruption and increase taxes on high earners and Korea's large conglomerates.

While observers have suggested that Moon is unlikely to take any action likely to damage the nascent economic recovery in South Korea, Moon has stated in the past his intention to increase the corporate tax rate from 22 percent to 25 percent for the "chaebol," the giant companies that dominate the economy, in addition to improving corporate governance and cutting government "ties" with such entities.

Moon is also tipped to hike taxes on the country's highest earners when he announces a supplementary budget, expected in the near future.

TAGS: individuals | tax | corporation tax | corporate governance | tax rates | Korea, South | tax reform

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »