Tax System of the Republic of Korea 2023

Published on April 21, 2023
Published by Tax Policy Analysis I Division

   ｢Tax System of the Republic of Korea 2023｣ is a tax system commentary that systematically organizes the key components of Korea's tax system, revenue structure, and national and local taxes by tax item. It aims to enhance the understanding of tax policy among participants in the policy process and the general public.
   Part 1, 'Understanding Tax System,' is designed to delve into the implications of tax policy, both through the general theory of taxation and by examining changes in past tax policies.
   Part 2 summarizes the processes involved in establishing the tax system and the normative framework of Tax Act.
   Part 3, 'National Taxes,' and Part 4, 'Local Taxes,' include the history of major revisions for each tax item, international trends, and anticipated tax act revisions for 2023, aiming to facilitate a comprehensive understanding of the key tax issues associated with each tax item.
   Part 5, 'Tax Expenditure,' provides an overview of the status of national and local tax expenditures, along with the tax expenditure management system in Korea.