[2020 National Tax Statistics] 517,000 People Subject to Comprehensive Real Estate Tax on Housing... 31.5% Increase from Previous Year

[Asia Economy Reporter Kwangho Lee] The number of people subject to the comprehensive real estate tax (종합부동산세) significantly increased last year. The number of people subject to the housing portion of the comprehensive real estate tax rose by more than 30%.

On the 29th, the National Tax Service (NTS) published the "2020 National Tax Statistical Yearbook" containing this information.

Including 28 new statistics, a total of 538 national tax statistical items were disclosed. By category, these include 27 items on collection (tax revenue), 74 on corporate tax, 39 on income tax, 89 on value-added tax, 38 on withholding tax, 42 on capital gains tax, 34 on inheritance and gift tax, 14 on comprehensive real estate tax, and 84 on earned income tax credit, among others.

Last year, the total number of people subject to the comprehensive real estate tax was 592,000, an increase of 27.7% compared to the previous year.

The assessed tax amount was 3.0072 trillion KRW, up 60.2% from the previous year.

Additionally, the number of people subject to the housing portion of the comprehensive real estate tax was 517,000, a 31.5% increase compared to the previous year.

By region, Seoul and Gyeonggi accounted for 79.7% of the total taxpayers.

An NTS official stated, "We are striving to improve the national tax statistics service centered on users to provide useful information to the public."

The NTS pre-released 181 national tax statistics before the publication of the yearbook (in July and November) for users to utilize, and produced an "Explanatory Guide to National Tax Statistics" containing basic concepts and frequently asked questions to facilitate easy understanding, which was posted online.