Ando Geol Criticizes "Yoon Administration's Tax Cuts for Collapsing Tax Revenue Base"

"Strengthening Taxation on Illicit Income
and Efforts to Recover Outstanding National Taxes"

Ando Geol, member of the Democratic Party of Korea.

Ando Geol, member of the Democratic Party of Korea (representing Gwangju Dongnam-eul), strongly criticized the collapse of the tax revenue base caused by the Yoon Suk-yeol administration's tax cut policies during the National Assembly Strategy and Finance Committee's confirmation hearing for the nominee for Commissioner of the National Tax Service on July 15. He also emphasized the importance of the National Tax Service's efforts to secure stable tax revenues.

Ando pointed out the controversy over politically motivated tax investigations conducted by previous administrations, stating, "The public's trust in the political neutrality of the National Tax Service's tax investigations is very low, scoring only 3.21 out of 5."

He argued that the Yoon Suk-yeol administration's tax cuts for the wealthy have led to a serious decline in tax revenue. He analyzed that last year's tax burden ratio regressed to 17.6%, the same level as eight years ago, and that there was a tax revenue shortfall of 100 trillion won. He warned that, with this year's economic growth rate expected to remain at just 0.8%, the tax revenue shortfall could expand to 17 trillion won.

Ando stressed, "Extraordinary efforts by the National Tax Service are needed to secure tax revenue," urging the agency to strengthen taxation on illicit and evaded income and to make greater efforts to recover outstanding national taxes in order to fully achieve its tax collection targets.

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