S. Korea Seeks to Raise Corporate Tax to 25%, Chosun Reports (1)

South Korean government to raise ceiling on corporate tax to 25% from 24% and also increase stock transaction tax, Chosun Ilbo newspaper reports, without citing anyone.

• Finance ministry reported tax revision plan to President Lee Jae Myung on July 22, Chosun says, citing unidentified ruling party sources; Lee is known to have accepted the plan to raise corporate tax
  • Plan includes reverting threshold for major shareholders on stock capital gains from previous 5b won to 1b won; also includes a plan to raise securities transaction tax to 0.18% from current 0.15%
• Plan doesn’t include cutting inheritance tax, salaried workers’ ...