기재부, "2019 하반기부터 달라지는 것" 발간
The government has laid out changes coming in the second half of the year in terms of tax and benefits.
Some key tax credits or cuts will stay in place or be increased, and there'll be a more inclusive benefit paid to families with young children.
Kim Hyesung reports.
The finance ministry's newly released report on policy changes for the second half of 2019 includes changes to 178 clauses from 33 government branches.
In finance and taxing, the thirty percent cut to individual consumption tax on car purchases that began last July has been extended for another six months to help boost auto demand in the country.
As a result, the tax will stay at 3-point-five percent until the end of December.
In welfare, unemployment benefits will increase starting in July.
The criteria for providing in-work income support for low-income households under the Earned Income Tax Credit system has been eased, and will cover 3 million households from September, up from the previous 1-point-six million households.
ncome support will increase more than three fold on-year, reaching a total of more than four billion U.S. dollars for the later half of 2019.
In education and childcare, the monthly 87 U.S. dollars allowance per child that is currently given to those with children under six, will be expanded to all children under the age of seven from September.
Kim Hyesung, Arirang News.
The government has laid out changes coming in the second half of the year in terms of tax and benefits.
Some key tax credits or cuts will stay in place or be increased, and there'll be a more inclusive benefit paid to families with young children.
Kim Hyesung reports.
The finance ministry's newly released report on policy changes for the second half of 2019 includes changes to 178 clauses from 33 government branches.
In finance and taxing, the thirty percent cut to individual consumption tax on car purchases that began last July has been extended for another six months to help boost auto demand in the country.
As a result, the tax will stay at 3-point-five percent until the end of December.
In welfare, unemployment benefits will increase starting in July.
The criteria for providing in-work income support for low-income households under the Earned Income Tax Credit system has been eased, and will cover 3 million households from September, up from the previous 1-point-six million households.
ncome support will increase more than three fold on-year, reaching a total of more than four billion U.S. dollars for the later half of 2019.
In education and childcare, the monthly 87 U.S. dollars allowance per child that is currently given to those with children under six, will be expanded to all children under the age of seven from September.
Kim Hyesung, Arirang News.
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