Tax Needed for Korean Unification
Categories: Taxation in North Korea, Taxation in South Korea
A new tax could be instated in South Korea to pay for the potentially exuberant costs of one day reunifying the country with its Northern counterpart. In a speech commemorating the 65th anniversary of Korea’s liberation from Japanese occupation, Lee Myung-bak, President of South Korea, restated that reunification between North and South Korea will definitely [...]
A new tax could be instated in South Korea to pay for the potentially exuberant costs of one day reunifying the country with its Northern counterpart. In a speech commemorating the 65th anniversary of Korea’s liberation from Japanese occupation, Lee Myung-bak, President of South Korea, restated that reunification between North and South Korea will definitely come between. However, the process could cost as much as USD 1 000 billion, and fiscal steps need to be taken now to ensure its future economic viability. ... Read More