Assemblyman Shin Sung-beom, Revitalizing Rural Economy... Three Rural Tax Benefit Bills Passed by National Assembly

Vacant House Maintenance, Return-to-Farming Settlement Support,
Agricultural Corporation Support, and Local Tax Reduction, etc.

The "Three Rural Tax Benefit Support Acts," which include local tax reductions for rural areas and were primarily proposed by National Assembly member Shin Seong-beom, passed the National Assembly on the 26th. This enables continued support for rural areas through sustained tax benefits in farming and fishing villages.

The three amendments to the Local Tax Special Cases Act, proposed by Representative Shin Seong-beom, include ▲acquisition tax reductions for vacant houses in rural areas ▲acquisition tax reductions on farmland for returnees to farming ▲resident tax reductions for agricultural corporations. These benefits were set to automatically expire by the end of this year, making urgent extensions necessary.

People Power Party lawmaker Shin Seong-beom.

With all three of Shin’s bills passing, the local tax reduction benefits will continue for three more years until 2027.

Recently, rural farming and fishing areas have faced a sharp increase in vacant houses due to population decline, and the number of people returning to farming has drastically decreased due to the impacts of COVID-19 and climate change, worsening conditions for agricultural and fishery production. This has raised concerns about a serious crisis.

According to government statistics, more than half of the vacant houses nationwide are concentrated in rural farming and fishing areas, and there is growing demand for continued support to improve residential environments by utilizing these vacant houses to prevent safety accidents and crimes.

Representative Shin Seong-beom stated, “Through these three rural support acts, I hope to contribute even a little to rural development by sustaining improvements in residential environments in farming and fishing villages, supporting returnees to farming, and providing tax benefits to agricultural corporations.” He added, “I will continue to work on institutional improvements to revitalize the rural economy and promote population inflow to these regions.”

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