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Blue House announces postponement of response to petition for ‘abolition of capital gains tax for large shareholders’
The property tax reduction standard of 600 million and 900 million won cannot be concluded.
On the 30th, Nak-yeon Lee, Executive Director of the Democratic Party, greets the construction site of the Gwangju Global Motors (GGM) finished car factory, a Gwangju-type job being created at the Bitgreen Industrial Complex in Hampyeong- gun, Jeollanam-do. News 1
In addition, it is reported that the Democratic Party, the government and the Blue House held a Party Office meeting on Day 1 and made the final adjustments based on the standard for property tax reduction for a landlord and the standard for large shareholders subject to capital gains tax on shares, but no conclusion reached. In particular, the government proposed an amendment to increase it from 300 million won to 500 million won, but the Democratic Party is reported to have opposed it. Ahead of next year’s reelection, the Democratic Party that insists on easing the tax burden and tax authorities concerned about fiscal deterioration are struggling.
A senior government official said, “The conclusion was not in the mood for me” at the high-ranking party administration council held at the Prime Minister’s Mission in Samcheong-dong, Jongno-gu, Seoul. Prime Minister Jeong Sye-gyun, Democratic Party representative Lee Nak-yeon, Kim Tae-nyeon and Choi Jae-seong, executive director of the Blue House, attended the party administration.
The party administration is said to have adhered to the existing position regarding the property tax reduction for 1 residents. The Democratic Party has revised the position of reducing the property tax by 0.05 percentage points for each target, even for houses with an official price of 900 million won (about 1.2 billion won). This is the result of taking into account concerns that public sentiment may worsen as the tax burden increases ahead of the Seoul-Busan mayoral elections in April next year. A key member of the Democratic Party said in a call with Hankook Ilbo before the party administration meeting on the same day, “I think it is necessary to ease the detailed burden of 600 million to 900 million won.”
In response, the government is known to have failed to buckle the existing position that it only cuts taxes on houses under 600 million won. The Ministry of Strategy and Finance is concerned that if the ‘public price of less than 900 million won’ is used as a reduction criterion, in fact, most houses will be exempt from property tax, resulting in a poor local tax financing.
The government is reported to have introduced a revised bill to increase the 300 million won to 500 million won on the basis of large shareholders subject to income tax on stock transfers. Earlier, the Ministry of Strategy and Finance proposed a proposal to drastically lower the standard for large shareholders from the current 1 billion won to 300 million won, but the Democratic Party has insisted on suspending the government’s proposal because it could negatively affect the government. Stock market. A senior government official said: “The amendment was also rejected by the Democratic Party, so no conclusion was reached.”
In this regard, the Blue House posted a notice on Facebook on day 1 to postpone the response to the “Petition for abolition of capital gains tax for large shareholders”, so please understand. We are listening to various opinions and will respond as soon as possible ”. The petition for the abolition of the capital gains tax for large shareholders, which ended on the 2nd of last month, is a matter that the Blue House must answer before the 2nd of this month with the consent of more than 210,000 people. It is interpreted that the announcement of postponement of the response is due to the fact that the consultations with the party administration are not fluid.
Hong In-taek reporter [email protected]
Shin Eun-byul reporter [email protected]
Jo So-jin reporter [email protected]
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