In this discussion, the speakers are addressing the issue of a tax revenue deficit in South Korea. They mention that tax collection is falling short of expectations, with a low tax revenue progress rate, particularly in corporate tax. They discuss various measures being considered to address this deficit, including borrowing money from the Bank of Korea, ending certain tax reduction measures, and potentially adjusting discount rates on taxes. There is also mention of the opposition party's call for a supplementary budget, which could involve issuing government bonds. However, concerns are raised about the potential inflationary impact of such measures. Overall, the speakers express uncertainty about how to address the tax revenue shortfall effectively.
1. Tax revenue deficit is a current concern.
2. Total expected tax collection is 400.5 trillion won.
3. Tax revenue progress rate from January to May is 40%.
4. National tax revenue collected from January to May is 160.2 trillion won.
5. Corporate tax revenue decreased by about 17.3 trillion won compared to the previous year.
6. Corporate tax rate is about 1/4.
7. Capital gains tax decreased due to a decrease in real estate transactions.
8. Projected growth rate for Korea in the mid-1% range, below potential growth rate.
9. Government considering borrowing from the Bank of Korea due to tax revenue shortage.
10. Short-term loan limit from the Bank of Korea is 50 trillion won, already borrowed 48.1 trillion won.
11. Government exploring options like surplus funds and funds for specific projects, but insufficient.
12. Discussions on potential measures include ending tax cuts on individual consumption and adjusting the fair market value ratio for real estate.
13. Concerns about stimulating inflation if surplus resources are used extensively.
14. Opposition party suggests a supplementary budget, while the ruling party is hesitant.
15. Issuing government bonds as part of a supplementary budget could impact interest rates and prices.