President Yoon's Announcement: Abolishment of Financial Investment Income Tax and Adjustment of Inheritance Tax Rates

IconCryptoNewsTerminal Staff29 Jul, 2024

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President Yoon's Announcement: Abolishment of Financial Investment Income Tax and Adjustment of Inheritance Tax Rates

President Yoon's Proposals: Easing the Burden on the Middle Class President Yoon Suk-yeol recently announced plans to abolish the financial investment income tax and adjust inheritance tax rates. These measures are aimed at protecting individual investors and stimulating economic growth. Abolishment of Financial Investment Income Tax President Yoon believes that abolishing the financial investment income tax will encourage more citizens to invest in the stock market. This, in turn, will lead to increased capital market activity and economic growth. Adjustment of Inheritance Tax Rates The adjustment of inheritance tax rates is intended to reduce the burden on the middle class. Under the current system, inheritances over a certain amount are subject to a high tax rate. President Yoon's proposal would lower the tax rate for inheritances below a certain threshold. These measures are part of President Yoon's broader economic plan, which aims to create a more vibrant and equitable economy for all South Koreans.

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