2022 Tax Revision Bill
2022 Tax Revision Bill

2022 Tax Revision Bill

  • 01
    2022 Tax Revision Bill
  • 02
    Revitalize economy, Revise corporate tax rates and tax brackets

    Revitalize economy, Revise corporate tax rates and tax brackets

    The tax burden on SMEs will be reduced by expanding the 10% tax bracket from KRW 200 million to KRW 500 million.

  • 03
    Revitalize economy, Establish an integrated employment tax credit

    Revitalize economy, Establish an integrated employment tax credit

  • 04
    Revitalize economy, Raise the effectiveness of inheritance deducation for the family business

    Revitalize economy, Raise the effectiveness of inheritance deducation for the family business

  • 05
    Revitalize economy, Remove capital gains tax on stock trading of listed firms and reduce securities transction taxes

    Revitalize economy, Remove capital gains tax on stock trading of listed firms and reduce securities transction taxes

  • 06
    Stabilize livelihoods, Adjust the income tax brackets

    Stabilize livelihoods, Adjust the income tax brackets

    Reduce the tax burden on all taxpayers by expanding the tax brackets of lower tax rates

  • 07
    Stabilize livelihoods, Expand support to promote employment and childcare

    Stabilize livelihoods, Expand support to promote employment and childcare

    EITC(Earned Income Tax Credit), Make and additional payment of KRW 1 trillion for 600,000 households.

    CTC(Child Tax Credit), Make an additional payment of KRW 130 trillion for 64,000 households.

  • 08
    Stabilize livelihoods, Expand support to minimize living cost burden

    Stabilize livelihoods, Expand support to minimize living cost burden

  • 09
    Stabilize livelihoods, Revise the comprehensive real estate tax system

    Stabilize livelihoods, Revise the comprehensive real estate tax system

    Adjust Basic Deduction Amount, KRW 300 million additional special deduction in addition to the basic KRW 1.1 billion dedction for single-home owners in 2022

    Adjust Tax Rates, Corporations : Apply single tax rate of 2.7% on all homeowners

  • 10
    Strengthen tax system&promote taxpayer-friendly environment, Introduce global corporate minimum tax

    Strengthen tax system&promote taxpayer-friendly environment, Introduce global corporate minimum tax

    Outline : From 2024, in case of an effective tax rate lower than the minimum tax rate(15%) is applied to the income of a multinational corporation in a specific country, additional taxation rights are granted to other countries

    Target : A multinational corporation with sales of more than 750 million euros(approx. KRW 1 trillion) in consolidated financial statements for more than two years among the previous four business years

    Tax Amount : Impose additional tax as much as less than the minimum tax rate(15%) based on the effective tax rate calculated by each country

  • 11
    Strengthen tax system&promote taxpayer-friendly environment, Raise the limit on duty-free allowance

    Strengthen tax system&promote taxpayer-friendly environment, Raise the limit on duty-free allowance

  • 12
    2022 Tax Revision Bill, Build a virtuous cycle of the economy through dynamic and innovative growth

    2022 Tax Revision Bill, Build a virtuous cycle of the economy through dynamic and innovative growth

    Tax Revision