Lee Government Simultaneously Promotes Tax and Organizational Reform... National Policy Committee "Revenue Structure Collapsed During Yoon Government"

[Financial News] The National Policy Planning Committee announced on the 24th that regarding the government's upcoming announcement of next year's tax reform plan, "We agree on the seriousness that the revenue structure collapsed due to tax shortages during the previous government," and "We are reviewing various ways to recover and normalize the collapsed state."
Cho Seung-rae, spokesperson for the National Policy Planning Committee, said at a regular briefing at the Seoul Government Complex in Changseong-dong, "We are discussing the tax amendment with the Ministry of Strategy and Finance," and said this.
The Ministry of Strategy and Finance is known to have recently reported a tax reform plan to the presidential office, raising the maximum corporate tax rate from 24% to 25% by 1 percentage point.
To reduce the tax burden on stock investors and activate the inflow of liquidity into the capital market, it is expected that the tax reform plan will include the separate taxation of dividend income.
Spokesperson Cho explained regarding the separate taxation of dividend income, "There is a part proposed by a member's initiative, and there is also an existing government plan," and "Based on this, we are currently discussing whether to introduce separate taxation of dividend income, and if so, what the scope of application will be."   
Regarding the discussion on government organizational reform, he reiterated, "Dividing the Ministry of Strategy and Finance into planning and budgeting functions and economic policy and finance functions is a clear promise of the president," and "That is an undeniable direction."
However, "It is not true that a single plan has been made and reported to the presidential office on how to name the newly separated and established organization, or whether the head's rank will be at the vice-ministerial level or ministerial level," he said, "We are continuing discussions to finalize the internal plan."
Regarding the reform of the Financial Services Commission, he said, "Unlike general government organizational reform, there is a problem of having to change a separate legal system called the Financial Services Commission Establishment Act," and "Since the chairman of the Political Affairs Committee is Yoon Han-hong from the People Power Party, we cannot ignore the legislative conditions. We must make a comprehensive judgment to reach a conclusion."


imne@fnnews.com Hong Ye-ji Reporter