Ministry of Economy and Finance to Visit Sites to Hear Opinions on 'Tax Law Amendment Proposals'

28 Organizations Received 1,442 Cases 'Record High'
Opinions Collected from Department Heads and Tax Officers During Visits to Recommendation Offices

The Ministry of Economy and Finance announced on the 9th that 1,442 tax law amendment proposals have been received from 28 organizations, including the Korea Tax Association, the Korea Federation of Small and Medium Business, and the Korea Chamber of Commerce and Industry. This is the largest number of tax law amendment proposals received since the inception of the proposal process.

According to the Ministry of Economy and Finance on the 9th, the Tax Policy Division is currently accepting tax law amendment proposals to reflect public opinion in the 2024 tax law amendment bill. So far, a total of 1,422 proposals have been received from 28 organizations, including the Korea Tax Association, the Korea Federation of Small and Medium Business, and the Korea Chamber of Commerce and Industry. This is the largest scale since the proposal process began.

To innovate the way of working, the Ministry held the first-ever “Visiting 2024 Tax Law Amendment Proposal Meeting,” where managers and officers directly visited major proposing organizations to collect proposals. Visits were mainly made to organizations with a high proportion of proposals from individual taxpayers, such as the Korea Tax Association, the Korea Federation of Small and Medium Business, the Korea Association of Mid-sized Enterprises, and the Korea Listed Companies Association.

The Ministry also plans to continue on-site communication by major policy topics. Meetings will be held on key topics such as responding to low birth rates and aging, promoting private investment and exports, supporting small business owners, and advancing the capital market, to promote field-centered tax law amendments. Starting with industry opinion hearings for national strategic technology tax support on the 28th, continuous on-site meetings will be held until the preparation of the tax law amendment bill.