[Anchor]
President Lee Jae-myung stated that government bills cannot always be perfect, suggesting they could be further revised in the National Assembly. The Democratic Party, which is set to review the government's proposal, is expected to make amendments regarding the comprehensive real estate holding tax for single-home owners, likely removing the distinction between residents and non-residents.
Reporter Ha Jeongyeon has the details.
[Reporter]
During yesterday's (September 1) Cabinet meeting, where the government's tax revision bills and budget plans were deliberated and resolved, President Lee made these remarks while urging bipartisan cooperation from the ruling and opposition parties as the regular session of the National Assembly begins.
[President Lee Jae-myung: We must acknowledge that government proposals are not always right nor can they be perfect. If there are reasonable points and suggestions, I hope they will be faithfully reflected in legislation and the budget without hesitation.]
The government's tax revision bills, which passed the Cabinet meeting yesterday, have now been submitted to the National Assembly to undergo full-scale review during the regular session that kicked off yesterday.
The Democratic Party stated, "While we agree with the intent of the government's tax revision to favor actual residents, strong consideration must also be given to tax equity among single-home owners and the predictability of tax burdens as felt by the public."
In particular, the party emphasized, "We will make necessary supplementary adjustments, including a plan to eliminate the distinction based on residency status for the basic deduction of the comprehensive real estate holding tax for single-home owners."
[Hahn Byung-do, Democratic Party Floor Leader: We will evaluate the positive aspects of the government's proposal and discuss what else might be needed in the National Assembly...]
As Party Leader Kim Min-seok had previously made a public request to eliminate the distinction between residents and non-residents for single-home owners, the government's comprehensive real estate holding tax basic deduction amounts—which set different thresholds at 1.4 billion won for residents and 1.2 billion won for non-residents—are expected to be revised in a direction that removes this disparity.
In addition, the "abolition of the long-term holding special deduction for non-resident single-home owners," which Party Leader Kim characterized as a "de facto tax hike," is also likely to be subject to further revision.
A Democratic Party lawmaker representing a Seoul constituency told SBS, "It appears the government has shown considerable sincerity and gathered opinions from within the party," while adding, "Discussions will take place within the party on measures such as completely scrapping the distinction between residents and non-residents for single-home owners and adjusting the raised fair market value ratio."
(Video capture: Kim Yong-woo | Video editing: Nam Il | Design: Hahn Heung-soo, Kim Ye-ji)
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