The Korean government will revise the tax code this year.. to make taxation fairer... and speed up job creation as well as innovative growth.<br /> At a policy coordination meeting today.... the ruling Democratic Party of Korea and the government discussed such measures.<br />At the core of the revision is ways to improve income distribution... by lowering taxes on those in the low-income bracket... while raising real estate taxes... and drawing up measures to prevent offshore tax evasion.<br />The two sides also agreed to step up job subsidies for those in the low-income bracket,... and to increase the number of people eligible for child benefits.<br />The revision is going to entail tax cuts for companies that invest in research for new technologies... as well as for those that create new jobs.<br />The government will announce a comprehensive plan soon -- which the National Assembly hopes to pass during parliament's regular session that starts in September. <br />
