■’Exposure soaring’ after a storm… Expert diagnosis/suggestions
If it is like this,’Vertical tax = middle class tax’… 稅 reduction or exemption according to age and retention period
The public announcement requires a reexamination of the roadmap because the burden is felt more than the increase in the house price.
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The post-storm is not unusual as the publicly announced prices for detached houses as well as apartment houses have risen sharply this year. As the current government raised the official price, there were several side effects, including a backlash from taxpayers every year. But this year, it’s less common. This is because, according to the government’s published price realization rate plan, even if the house price falls in the future, the published price will rise every year. The backlash from taxpayers is also expected to be a record this year.
As a result of an urgent investigation of experts from the Seoul Economic Daily, they agree that it is necessary to improve the system for the publicly announced price and ownership tax. Kim Tae-seop, a senior research fellow at the Housing Industry Research Institute, said, “The biggest problem is the fairness of the published price calculation results.” He continued, “The rate of increase is so high that it leads to a problem of taxation ability.” “If the trend is as it is now, a tax of almost shock levels may be imposed in the future. It is suggested that the tax burden is exploding through discussions such as strengthening the reduction and exemption system according to age and retention period or raising the comprehensive real estate tax standard of 900 million won.”
◇”Even ordinary people should adjust the standard and tax rate” = Experts believe that it is a structure in which not only the wealthy but also the middle class will bear the taxation tax within a few years, especially as the government dictates. According to the Ministry of Land, Infrastructure and Transport, the published price realization rate, which is 70.2% this year, will increase to 90% by 2030. In the case of one homeowner who currently owns an apartment of 1 billion won, even if the apartment market price does not rise for the next nine years, 90% of the realization rate is applied and eventually becomes the subject of taxation (over 900 million won). If it is a tax paid by the middle class, it is the reason why the question is raised as to what is the nature of the tax.
Jong-wan Ko, director of the Korea Asset Management Research Institute, said, “The tax is a kind of wealth tax, but it is not fair for ordinary people to pay it, and it is not suitable for tax ability. Suggested.
Lee Chang-moo, a professor at Hanyang University’s Department of Urban Engineering, also said that the tax rate or imposition standard on the end-of-life tax should be adjusted. In particular, Professor Lee said, “The logical basis that the taxation tax can be recognized as a reasonable tax is the role of substituting the rental income tax for the underground economy. If this is recognized, the level of the taxation tax should not exceed a certain percentage of rental income.”
According to Professor Lee, the current rental yield in the metropolitan area is 3%, and assuming that the maximum tax rate for this is around 30%, the maximum effective tax rate for ownership tax is 1%. However, the tax rate for multi-homed people currently reaches 6%. Professor Lee said, “Even if all the rental income is paid in tax, it is not enough, so we take out five times the amount from the lessor’s pocket and ask for more wagering.” “This is excessive punitive taxation, which in turn causes the supply of private rental housing to contract. The surge in rent for cheonsei and the shortage of rented houses for cheonsei is very likely to cause pain in the housing market.”
◇ Controversy over public prices, unconstitutional controversy over government responsibility theory… “Improve the overall retention tax policy” = Many opinions emphasized the role and responsibilities of the government. Professor Lee said, “If the government intends to use the quoted price for tax purposes, it should consider reducing volatility and mitigating the impact from the perspective of taxpayer burden. There are countries, but in any case, there is no case that the tax burden is almost doubled as in the domestic public price controversy because of the tax burden buffer.”
Seong-gyu Doo, a senior research fellow at the Korea Institute of Construction Industry, said, “The government has pledged to increase the ownership tax and lower the transaction tax, but in reality it is raising the transaction tax, raising the ownership tax, and reinforcing the trend.” Considering the fact that it is a failure, this trend of tax increases is not a desirable tax direction for the government to take.”
The two members then proposed a review of the overall ownership tax. He said, “As you can see in the controversy over the published prices, there is a problem of fairness in the taxation of the holding tax. Regardless of the distinction between local and national taxes, it is necessary to re-identify and reorganize the characteristics of each holding tax including the final tax. “This is not to reduce the tax burden, but to secure a public sympathy for tax at the present time.”
Some pointed out that the government’s intervention in public prices is unconstitutional and needs to be improved. “As of April 7, last year, as the Real Estate Price Disclosure Act was amended, the Minister of Land, Infrastructure and Transport has been able to set the rate of reflecting the market price,” said Hong Ki-yong, president of the Korea Taxpayers Federation, and the government’s intended subjective price range. It is against legalism.” Article 59 of the Constitution stipulates that the tax categories and tax rates are determined by law. Professor Hong said, “Now, the government is adjusting it without permission as if it had full power (for calculating and imposing the holding tax). I can’t explain if it’s 70%,” he urged for revision.
“Even if there is consensus on the realization of public prices, the problem is speed,” said Ko Jun-seok, adjunct professor at Dongguk University’s Law School.
/ Reporter Kim Heung-rok [email protected], reporter Yang Ji-yoon [email protected]
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