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10 Percent of Tax Reduce for Salaried Class

Posted August. 16, 2001 08:34,   


Government has decided to take a positive action on the plan for reducing more than 10 percent of tax for 6million salaried class and 10~15 percent of tax for small business owners who paid tax diligently through the expansion of the amount deducted from one`s own income.

Government also will review positively the plan providing 200 thousand of small government-subsidize housing that is under 100 thousand won rent. Meanwhile they are reviewing the plan to loan to low income class; they can receive the loan with long-term low interest for 70 percent of the rent or the purchase of small house.

Lee Kee-Hoo, the presidential chief of economy, said as such in relation to the issues of boosting economy and stability of middle and low class economic life that was commented in the presidential celebration address for National Liberation Day on the 15th.

Concerning boosting economy, government is considering tax reduction for research or establishment in accommodation in order to widen the domestic market. Government will decide concrete plan within this year.

Lee Kee-Hoo also said that government will consider the plan excluding money invested to core field such as establishment in accommodation and export from the total finance invested, reforming the system of supervision of large enterprises.

Along with this, government will establish a health checkup plan, and it will be valid from next year, and government expects that most of the people can get the checkup for three cancers as early as 2005.

Lee Kee-Hoo chief also said that ``5 percent of economic growth is expected in the fourth of quarter of this year, and 5~6 percent of potential growth for next year.`` He added, ``we could be the 7th world economically powerful state within 10 years.``

Yun Seung-Mo ysmo@donga.com