Korea government mulls reducing tax benefits
Hyun Oh-seok
Seoul - Yonhap
South Korea's finance ministry is reviewing cutting tax exemptions and other tax benefits allowed to companies and individuals to make up for an expected large tax shortfall this year and meet an increase in welfare spending, government officials said Sunday.
The ministry last year had announced a tax code revision in which it said it would not raise tax rates but drew criticism by increasing the tax burden on millions of people by reducing benefits and exemptions starting this year.
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