콘텐츠 바로가기
로그인
컨텐츠
  • HOME
  • SEARCH
PLUS Text Size MINUS RESET
FACEBOOK TWITTER Linked In

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Economic Conditions
Economy Economic Administration
Economy Economic System

Print

Korea’s 2017 tax reform-job creations and growth

Related Document
Frame of Image  Retirement Age(Over 66 years old )
2012
2013
2014
2015
2016
Source : Statistics Korea
2
1. Backgrounds
Employment and Unemployment rates
61.0 60.5 60.0 59.5 59.0 58.5 8.0 6.0 4.0 12.0 10.0
• Relatively stable labor market • Rising ER • Stable UR
• But the youth(15~29).... • High and rising UR
58.0
57.5 57.0
2.0
0.0
ER(Left)
UR(Right)
YUR(Right)
Source : Statistics Korea
3
1. Backgrounds
Midterm Expenditure Framework(2017~2021)
Unit: Tril. KRW, %
2017 Main ▣ Revenue 414.3 Supple. 423.1
2018
447.1
2019
471.4
2020
492.0
2021
513.5
AAGR
5.5
- National tax
▣ Expenditure
(AAGR)
242.3
400.5 (3.7)
251.1
410.1 (6.1) 2017
268.2
429.0 (7.1) 2018 △28.6 (△1.6) 708.9 (39.6)
287.6
453.3 (5.7) 2019 △33.0 (△1.8) 749.1 (39.9)
301.0
476.7 (5.2) 2020
315.0
500.9 (5.1) 2021
6.8
5.8
▣ (Adj.)Fiscal balance
(GDP share, %)
△28.3 (△1.7) 669.9 (39.7)
△38.4 (△2.0) 793.0 (40.3)
△44.3 (△2.1) 835.2 (40.4)
▣ Gov’t Debt
(GDP share, %)
Source : Mosf
4
2. 2017 Tax reform
How to support MTEP? • Revenue side • Strong tax revenue: additional 10 tril. KRW(0.6% of GDP) • Tax policy: from top earners and big firms to more broad taxpayers • Star ts with rate increase of top earners and big firms • Expenditure Side • Exp. restructuring: From economic, SOC sector to welfare • Supporting economic innovation
5
2. 2017 Tax reform
Tax revenue effect (Change from previous year)
(Unit: 100 million won ) category Total Income tax Corporate tax VAT etc
Source : MOSF
Total 54,651 21,938 25,599 ∆369 7,483
2018 9,223 6,133 ∆341


Full Text
Title Korea’s 2017 tax reform-job creations and growth
Similar Titles
Material Type Proceedings
Author(English)

Jeon, Byung M.

Publisher

[Sejong] : KDI School; World Bank

Date 2018
Event

Joint World Bank-KDI workshop on taxation and growth

Event [Workshop] Joint KDI/World Bank Workshop on Taxation and Growth
Pages 20
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Conditions
Economy < Economic Administration
Economy < Economic System
Holding KDI School pf Public Policy and Management
License