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The marginal effective tax rates in Korea for 45 years: 1960-2004

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  • The marginal effective tax rates in Korea for 45 years: 1960-2004
  • Yoo, Ilho
  • KDI School of Public Policy and Management


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Title The marginal effective tax rates in Korea for 45 years: 1960-2004
Similar Titles
Material Type Reports
Author(English)

Yoo, Ilho

Publisher

[Sejong, South Korea]:KDI School of Public Policy and Management

Date 2007-08
Series Title; No KDI school working paper series / 07-09
Pages 36
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Economy < Economic Administration
Holding SSRN

Abstract

This paper attempts to measure marginal effective tax rates in Korea for the past 45 years since 1960 in order to evaluate Korea's tax incentive policies. It is shown that marginal effective tax rates are manifest both negatively and positively, although mostly negative. This is a change compared to previous studies, due to high statutory tax rates and the low rate of debt financing after the economic crisis of 1997-8. While debt financing has been heavily subsidized, equity and retained earnings have not. Small and medium sized firms have been treated more favorably compared to their larger counterparts. In making an international comparison, it can be observed that Korea is shown to be among countries with low effective tax rates.