A bill to ease the comprehensive real estate tax on first-generation, one-homed residents issued by Yeo-Ya was blocked by opposition from the Ministry of Strategy and Finance.
At the Tax Subcommittee of the National Assembly’s Planning and Finance Committee held on the 17th, 14 amendments to the final tax law were proposed. Most of these bills are the contents of partially easing the tax on tax only for first-generation, one-homed and long-term seniors.
Seoul Songpa area apartment. yunhap news
In the event of the National Assembly, women and nights competitively poured out legislation to ease the taxation tax. According to the point that the strengthened taxation tax as part of the government’s real estate countermeasures could be a burden to elderly single-family homeowners with low income.
Democratic Party lawmaker Park Hong-geun proposed a bill that maintains the current long-term deduction framework, but adds deduction benefits for each period of residence. Depending on the actual residence period of one homeowner in a household, 20% is deducted for 2 years or more and less than 5 years, 40% for 5 years or more and less than 10 years, and 100% for 20 years or more.
Rep. Yoon Hee-suk proposed a revised bill that raises the upper limit for long-term holdings (more than 20 years) to 70%. Rep. Choo Gyeong-ho submitted a revised bill that raised the maximum deduction limit (aged and long-term possession combined) from 80% to 90%.
However, the Ministry of Information and Communications made it clear the opposition to these laws to ease the taxation tax. According to the minutes of the Subcommittee on Taxation released on the 1st, Vice Minister Kim Yong-beom said, “The government revised the system last year and increased the deduction rate for the elderly by 10% from 10% to 30%, and the total holding limit is 10% from a maximum of 70% to a maximum of 80%. He added, “I think it is necessary to carefully review the proposals for additional tax-free (100% deduction rate) or increase the one-house deduction limit after observing the effects of the revised law and market trends.”
On the contrary to the Ministry of Equipment, the bill to ease the taxation for first-generation and one-household owners did not exceed the threshold above. Some of the ruling Democratic Party also opposes, making the possibility of passing through the National Assembly even lower. After observing the effects of long-term holding of the existing tax tax and the deduction for the elderly, the party set aside to discuss it again. The National Assembly Commission will reopen the Tax Subcommittee afterwards to discuss further.
Sejong = Reporter Cho Hyun-sook [email protected]
