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August 22, 2022
South Korea announces 2022 tax reform proposals including several significant changes
On 21 July 2022, Korea’s Ministry of Economy and Finance announced the 2022 tax reform proposals (the 2022 Proposals).
The proposals outlined several significant potential changes, including the following:
It is still unclear whether these proposals will become law, but these should still be closely monitored by taxpayers to ensure they are adequately prepared in the event they are legislated.
A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.
Full text of Tax Alert