tax code revisions-highlights

tax code revisions-highlights

Highlights of tax code revisions

SEOUL, July 27 (Yonhap) -- The following are the highlights of the tax code revisions unveiled Thursday, focusing on bolstering tax cuts for businesses and easing burdens of the low- and middle-income groups.

Revitalizing the economy by promoting exports, investment, domestic consumption

- Promoting investment, employment

- Enhancing corporate competitiveness

- Vitalizing startups, venture investment

Recovering the livelihoods of people by easing tax burden

- Offering tax reductions to the low-income bracket, middle class

- Supporting small businesses and SMEs

Preparing for the future by overcoming structural challenges, including population, regional issues

- Aiding marriage, birth, child care

- Assisting young adults' savings, people's preparation for retirement

- Pursuing balanced growth among regions

Building a taxpayer-friendly environment, improving fairness

- Protecting the rights of taxpayers

- Strengthening monitoring of tax evasion

- Improving tax fairness

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