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South Korea posted a small fiscal surplus in 2016 for a second year running, largely due to an unexpected increased in corporate tax and value-added tax revenues. Read Full Story
In its work report for 2017, the South Korean Ministry of Strategy and Finance has indicated that it will focus on boosting South Korea's currently-weak economic growth, in part through fiscal reforms. Read Full Story
On January 23, Hong Kong and South Korea signed a Competent Authority Agreement to allow for the automatic exchange of financial account information in tax matters from 2019. Read Full Story
The US Department of Commerce has announced its final decision to impose anti-dumping margins and anti-subsidy countervailing duties on Chinese imports of biaxial integral geogrid products, used as a foundation in the construction of roads and railways. Read Full Story
The 11th round of negotiations for a trilateral free trade agreement between China, Japan, and South Korea was held in Beijing on January 11. Read Full Story
The South Korean National Tax Service has issued its Easy Guide for Foreigners' Year-end Tax Settlement, to help foreign residents in the country to file a return and settle the taxes due on their 2016 income. Read Full Story
Within its proposed policy framework for 2017, the South Korean Ministry of Strategy and Finance has announced various tax changes to counteract the continued economic uncertainties, including measures to create jobs and support new growth industries. Read Full Story
The South Korean Ministry of Strategy and Finance has issued details of a tax incentive to be given to those individuals replacing old cars that have diesel engines for new gasoline-driven vehicles. Read Full Story
South Korea's Government and parliamentary lawmakers have agreed to introduce an increased top rate of individual income tax in the 2017 Budget, to part-fund a child care support program. Read Full Story
A study in the journal of the Korea Academic Society of Taxation has noted that, although there are no additional taxes imposed on South Korean single individuals, they end up paying higher effective income tax rates than families with children. Read Full Story
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