[2023 Tax Reform] YeoGyeongHyup "Laying the Foundation for Long-Lasting Women-Owned Businesses"

On the 27th, Statement Welcoming This Year's Tax Law Amendment Proposal
"Shows Government's Willingness to Prepare for the Future"

The women's business community evaluated this year's tax law amendment bill as "laying the foundation for women-owned businesses to become long-lasting enterprises that span generations."

The Korea Women Entrepreneurs Association stated in a press release on the 27th, "We greatly welcome the '2023 Tax Law Amendment Bill' announced by the government, which focuses on revitalizing economic vitality."

The association said, "The government's strong commitment to recovering the livelihood economy and preparing for the future is evident in measures such as easing tax burdens related to business succession and raising the non-taxable limit for workers' childbirth and childcare allowances," adding, "We expect this to also contribute to creating a sustainable future society by supporting the establishment of family-friendly corporate cultures."

Furthermore, the association added, "The extension of the income tax reduction period for employees of small and medium-sized enterprises and the extension of the special employment support application period will be a great help to women-owned businesses struggling with labor shortages."

They also emphasized, "Many experts point to women's economic activation as a solution to ultra-low birth rates and aging populations. The employment rate of female workers in women-owned businesses is about 2.3 times that of male-owned businesses, so fostering women-owned businesses is directly linked to women's economic activities," and stressed, "We hope the government will implement greater policies for women-owned businesses and women's economic activation for future economic development and preparedness."

This content was produced with the assistance of AI translation services.