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CEPD to study South Korea's US$10 billion tax rebate plan

The Council for Economic Planning and Development (CEPD) will need to carefully study a South Korean government's unprecedented tax rebate plan before offering its own views, CEPD officials said Monday.
South Korea on Sunday announced that it will offer some US$10 billion in tax rebates and subsidies to help low-income earners and enterprises cope with rising oil prices.
The one-year plan -- slated to take effect in July -- will cover about 13.8 million people in South Korea, including 78 percent of the nation's workers who earn an annual income of less than 36 million won (NT$1.06 million) and self-employed owners with incomes below 24 million won, according to foreign media reports.
In addition, fuel price subsidies will be provided to bus drivers, truckers, farmers, fishermen and those with lower incomes, the reports said.
Asked to comment on the measures, CEPD officials said they will first gain a deeper understanding of the South Korean measure and analyze it before considering whether to propose a similar initiative in Taiwan.

Updated : 2021-05-09 22:55 GMT+08:00