Against backlash from Donghak ants … Government changes tax method on transfer of shares to ‘personal holdings’



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The government put out a card that changed the capital gains tax on the shares of major shareholders from the “family sum” method of taxation to “individual holdings” for specific stocks in order to quell the fierce reaction of individual investors. .

Criticisms continued that the family bonding rule was the “modern version of the association system,” and even the ruling party, surprised by the departure of public sentiment from the “Donghak ants,” resigned when the government pushed. Instead, it decided to stick with the policy of expanding the transfer tax issue to more than 300 million won per item.

At the national audit of the National Assembly Planning and Finance Committee of the National Assembly held at the Sejong Government Complex on the 7th, a member of the Democratic Party employment team said: “People are very confused and worried that the instability of the stock market will come (due to the relaxation of the standard for large shareholders) “. Without the share transfer tax, taxes will increase. Please seriously consider continuing like this for two years. “Representative Woo Won-sik from the same party said,” It is not appropriate to say that majority shareholders have held more than 300 million won of shares in individual shares. It is premature to impose a tax. transfer of more than 300 million won. ”

Vice Premier Hong Nam-ki and Minister of Strategy and Finance said: “In the process of overcoming Corona 19, the role of individual shareholders, called Donghak ants, played an important role.” Emphasized. It means that it will be implemented starting next year as planned. Instead, in keeping with Rep. Woo’s criticism that the combined taxes for each generation should be abolished, he said: “We are considering a way to convert it to the individual standard.” Under current law, shareholders who own more than 1 billion won in one share are considered the largest shareholder, and between 22% and 33% (including local taxes) the gains from the sale of shares are taxed. The government revised the Income Tax Law Enforcement Decree in 2017 and decided to expand the taxable target by lowering the 1 billion won standard to more than 300 million won as of April 2021.

At this time, there is a controversy about the “ fiscal consolidation of transfers system ”, in which the share holdings of families that maintain independent livelihoods must also be evaluated based on the sum of the inventories that the company owns. family, including self, spouse, children, parents, grandparents, maternal grandparents, and grandchildren. Got up.

As the time to implement the policy approached, individual investors strongly opposed by posting a petition to abolish the stock transfer tax on the Blue House National Petitions Bulletin Board. The securities industry was also concerned that it could shock the stock market by spilling a sell-off bomb from investors trying to avoid the year-end requirement of large shareholders.

Investor dissatisfaction is likely to diminish if the rules for adding family members, which have been the biggest negative reaction, are improved.

However, the controversy is expected to continue as some ruling party lawmakers demand that the plan to lower the majority shareholder’s stock holding standard to 300 million won also be suspended. That day, the Blue House official also said: “In principle, we must follow the established political direction,” in relation to expanding the requirements for large shareholders. There is, ”he said. Then he walked out of a room saying, “I’ll talk a little more about that part or see your opinion.”

The government plans to review the implementing decree accordingly when the tax law amendment bill is approved by the National Assembly at year-end. In this process, there is the possibility that the provisions related to the requirements of the major shareholders will be revised further as the National Assembly is discussed.

Sejong = Reporter Joo Aejin [email protected] Go to reporter page>
Reporter Park Hyo-mok [email protected]

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