Concerns over the 'non-resident single home' taxation and the 'rental crisis' are growing, and there is a controversy over the tax reform plan.
The government has announced a differentiated tax burden for homeowners, based on whether they reside in their primary residence or not. This proposal has raised concerns among ruling party officials and some experts, as it could impact the second-hand housing market and increase the burden on renters. Additionally, the same tax rate for both residency and non-residency of identical properties contradicts basic tax principles.
The government is open to finding ways to mitigate these issues, but critics argue that the proposal goes against the fundamental tax principle of taxing assets based on their value, rather than subjective residency status.
Written by urgent.news from Hankyoreh's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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