"Establishing Real-Time Monitoring of Nationwide Income Decline...Enabling Rapid Disaster Relief"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] On the 27th, President Moon Jae-in urged the swift establishment of infrastructure regarding the partial amendments to the Enforcement Decrees of the Income Tax Act and the Corporate Tax Act, which were passed at the Cabinet meeting, stating, "If a foundation is established to grasp the income of all citizens in real time, equitable and prompt disaster relief can be provided."

The Blue House announced that the 'Partial Amendment to the Enforcement Decree of the Income Tax Act' and the 'Partial Amendment to the Enforcement Decree of the Corporate Tax Act' were passed at the Cabinet meeting that day.

These two bills are amendments to the tax-related enforcement decrees for grasping the income of all citizens and are part of the 'National Employment Insurance Roadmap.'

President Moon said, "If a foundation is established to grasp the income of all citizens in real time, it will be possible to accurately estimate the income reduction of the people during disasters such as COVID-19 and provide disaster relief that is equitable, prompt, and without blind spots."

Also, at the Cabinet meeting that day, the 'Regulations on the Establishment and Operation of the 2050 Carbon Neutrality Committee' were passed. President Moon said, "At the World Climate Summit, leaders agreed that carbon neutrality is an important opportunity to transition to a low-carbon economy, innovate technologies for decarbonization, and create new industries and jobs such as renewable energy," adding, "I ask the Carbon Neutrality Committee to become a great force leading our economy toward a pioneering economy."

On that morning, President Moon presided over the Cabinet meeting at the Blue House Yeomin 1 Building and deliberated and resolved bills such as the 'Partial Amendment to the Act on the Fairness of Franchise Transactions,' presidential decrees such as the 'Partial Amendment to the Enforcement Decree of the Income Tax Act,' and general agendas such as the '4th Basic Plan for Healthy Families.'

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