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South Korea Unveils Real Estate Tax Reform Consultation Results on July 23

GateNews
According to Yonhapinfomax, on July 23, South Korea's government released preliminary results from public consultations on real estate tax policy ahead of President Lee Jae-myung's national forum. Key areas of debate include the relationship between holding and transaction taxes, reform of long-term ownership deductions, differentiated taxation for non-resident and ultra-luxury properties, and adjustments to the comprehensive real estate tax system. Public opinion remains divided between priorities of protecting primary residences and suppressing speculation, with concerns raised about potential supply constraints and tax avoidance loopholes. The government plans to incorporate forum discussions and consultation feedback into a tax reform proposal due by month-end.
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