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Tax Revenues in Korea Are Going backwards... Major Countries Are Slowing, but Korea's Decline Ranks Second Among Oecd Countries.
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[Sejong=Newsis] Reporter Ho-gyun Ahn = Recently, it has been revealed that the proportion of tax revenue to Korea's gross domestic product (GDP) has decreased significantly. Due to the impact of tax cut policies and economic slowdown, Korea's national tax burden rate is expected to fall to the mid-20% range in 2024, creating a gap of more than 10 percentage points with other advanced countries. According to the '2025 Tax Revenue Statistics' repo…
·Seoul, Korea, Republic of
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