"The Regime That Even Empties the Common People's Glass Wallets"
Number of Comprehensive Real Estate Tax Payers Surges to 700,000
Hong Joon-pyo, an independent lawmaker representing Suseong District B in Daegu, held an emergency press conference on the afternoon of the 20th at his local office in Suseong District, Daegu. Photo by Yonhap News
[Asia Economy Reporter Kim Ga-yeon] Independent lawmaker Hong Joon-pyo criticized the increase in comprehensive real estate tax and local taxes, saying, "How long will this tyrannical oppression of excessive taxation (garyeomjugu, 苛斂誅求) continue?" and mentioned the possibility of protests outside the parliament.
On the 23rd, Hong posted on his Facebook, "Joseon collapsed due to the people's uprising caused by the disorder of the three taxes (samjeongmunran, 三政紊亂)," expressing his concerns.
He added, "It is questionable whether the people will continue to endure without tax resistance against a regime that even empties the wallets of ordinary citizens," and said, "It is unrealistic to expect anything from the powerless opposition party that has become a second division, and despite the COVID-19 threats, do we have to go back to Gwanghwamun Square again?"
This criticism from Hong is interpreted as a response to the increase in the comprehensive real estate tax due to the rise in publicly announced property prices.
Earlier that day, the National Tax Service announced that it had issued comprehensive real estate tax notices based on the housing and land ownership status as of June 1. Due to the rise in publicly announced property prices and the adjustment of the fair market value ratio from 85% to 90%, the number of taxpayers subject to the comprehensive real estate tax is expected to increase to around 700,000 to 800,000, up by 100,000 to 200,000 from about 595,000 last year.
According to data submitted by the Ministry of Land, Infrastructure and Transport to People Power Party lawmaker Bae Hyun-jin, the number of apartments in Seoul with publicly announced prices over 900 million won (for single homeowners) increased from 203,174 households last year to 281,033 households this year.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
