Democratic Party Stands Firm: FIIT Implementation Unwavering

IconCryptoNewsTerminal Staff25 Jul, 2024

cryptonews.jpg

Democratic Party Stands Firm: FIIT Implementation Unwavering

The Democratic Party of Korea remains steadfast in its commitment to implement the Financial Investment Income Tax (FIIT) as scheduled. This declaration comes in response to the 2024 tax law revision bill that proposed abolishing FIIT, which targets income generated from financial investments. The Ministry of Economy and Finance's proposed tax revision aimed to eliminate FIIT while preserving the capital gains tax structure. However, the Democratic Party has made it clear that it will not waver from its plans for FIIT implementation.

Related News