Gov't May Postpone Plan to Cut Taxes
Finance Minister Yoon Jeung-hyun says deferring a plan to reduce corporate and income taxes from next year is worth considering.
Yoon made the remark Monday during a full session of the parliamentary committee on strategy and finance. His comments came after Grand National Party legislator Kim Sung-sik said it was important to defer the tax cuts to effectively handle finances.
Yoon said the ministry is mulling over how to address tax revenue issues while trying to revive the nation’s economy.
He said the ministry will place top priority on actively supporting housing and childcare for low-income families in its spending plans.
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