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South Korea Assembly Considers Bill to Increase Tax Deductions for Specific Rental Housing Residents

June 30, 2022, 5:00 AM

The South Korean National Assembly June 27 accepted for consideration Bill No. 2116152, to increase tax deductions for rental housing residents who don’t own a house. The bill includes measures to increase the tax deduction rates to: 1) 12 percent from 10 percent for workers earning 70 million South Korean won (US$54,244) or less per year; and 2) 15 percent from 12 percent for workers earning 55 million won (US$42,620) or less per year. [South Korea, National Assembly, 06/27/22]

Reference:
View Index. View Legislative History of Bill No. 2116152. View Text of the Bill No. 2116152.