Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing:
Korea has one of the lowest tax burdens in the OECD area, reflecting its small public sector. However, rapid population ageing will put upward pressure on government spending. The challenge is to meet the long-run need for greater expenditures and tax revenue while sustaining strong economic growth....
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2009
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Korea has one of the lowest tax burdens in the OECD area, reflecting its small public sector. However, rapid population ageing will put upward pressure on government spending. The challenge is to meet the long-run need for greater expenditures and tax revenue while sustaining strong economic growth. A pro-growth tax reform implies relying primarily on consumption taxes for additional revenue. There is also scope for raising personal income tax revenue from its current low level by broadening the base by reducing the exemptions for personal income. The planned cuts in the corporate tax rate should be financed at least in part by reductions in tax expenditures. The broadening of direct tax bases would also help finance an expansion of the earned income tax credit to address widening income inequality. In addition, the local tax system should be simplified and reformed to enhance the autonomy of local governments |
| Beschreibung: | 1 Online-Ressource (44 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/226518762318 |
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| spelling | Jones, Randall S... Verfasser aut Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing Randall S. Jones = Réformer le système fiscal en Corée afin de favoriser la croissance économique et de faire face au rapide vieillissement démographique / Randall S. Jones Réformer le système fiscal en Corée afin de favoriser la croissance économique et de faire face au rapide vieillissement démographique Paris OECD Publishing 2009 1 Online-Ressource (44 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers Korea has one of the lowest tax burdens in the OECD area, reflecting its small public sector. However, rapid population ageing will put upward pressure on government spending. The challenge is to meet the long-run need for greater expenditures and tax revenue while sustaining strong economic growth. A pro-growth tax reform implies relying primarily on consumption taxes for additional revenue. There is also scope for raising personal income tax revenue from its current low level by broadening the base by reducing the exemptions for personal income. The planned cuts in the corporate tax rate should be financed at least in part by reductions in tax expenditures. The broadening of direct tax bases would also help finance an expansion of the earned income tax credit to address widening income inequality. In addition, the local tax system should be simplified and reformed to enhance the autonomy of local governments Economics Korea, Republic of https://doi.org/10.1787/226518762318 Verlag kostenfrei Volltext |
| spellingShingle | Jones, Randall S.. Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing Economics Korea, Republic of |
| title | Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing |
| title_alt | Réformer le système fiscal en Corée afin de favoriser la croissance économique et de faire face au rapide vieillissement démographique |
| title_auth | Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing |
| title_exact_search | Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing |
| title_exact_search_txtP | Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing |
| title_full | Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing Randall S. Jones = Réformer le système fiscal en Corée afin de favoriser la croissance économique et de faire face au rapide vieillissement démographique / Randall S. Jones |
| title_fullStr | Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing Randall S. Jones = Réformer le système fiscal en Corée afin de favoriser la croissance économique et de faire face au rapide vieillissement démographique / Randall S. Jones |
| title_full_unstemmed | Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing Randall S. Jones = Réformer le système fiscal en Corée afin de favoriser la croissance économique et de faire face au rapide vieillissement démographique / Randall S. Jones |
| title_short | Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing |
| title_sort | reforming the tax system in korea to promote economic growth and cope with rapid population ageing |
| topic | Economics Korea, Republic of |
| topic_facet | Economics Korea, Republic of |
| url | https://doi.org/10.1787/226518762318 |
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