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
Source: Yonhap News Agency