Research Catalog

Title

Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing [electronic resource] / Randall Jones

Author

Jones, Randall.

Publication

Paris : OECD Publishing, 2009.

Details

Description

45 p.; 21 x 29.7cm.

Summary

Korea has one of the lowest tax burdens in the OECD area, reflecting its small public sector. However, rapid population ageing will put upward pressure on government spending. The challenge is to meet the long-run need for greater expenditures and tax revenue while sustaining strong economic growth. A pro-growth tax reform implies relying primarily on consumption taxes for additional revenue. There is also scope for raising personal income tax revenue from its current low level by broadening the base by reducing the exemptions for personal income. The planned cuts in the corporate tax rate should be financed at least in part by reductions in tax expenditures. The broadening of direct tax bases would also help finance an expansion of the earned income tax credit to address widening income inequality. In addition, the local tax system should be simplified and reformed to enhance the autonomy of local governments.

Series Statement

OECD Economics Department Working Papers, 1815-1973 ; no.671

Uniform Title

OECD Economics Department Working Papers, no.671.

Subject

• Economics
• Korea, Republic of

LCCN

10.1787/226518762318

OCLC

oecd-lib-004904

Author

Jones, Randall.

Title

Reforming the Tax System in Korea to Promote Economic Growth and Cope with Rapid Population Ageing [electronic resource] / Randall Jones

Imprint

Paris : OECD Publishing, 2009.

Series

OECD Economics Department Working Papers, 1815-1973 ; no.671

OECD Economics Department Working Papers, 1815-1973 ; no.671.

Connect to:

http://dx.doi.org/10.1787/226518762318

Indexed Term

Economics

Korea, Republic of

Other Standard Identifier

10.1787/226518762318 doi