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Korea: Parliament passes tax bill to boost housing market

Posted on 23 April 2013

A parliamentary committee on Monday passed a government-proposed bill that calls for the temporary exemption of capital gains taxes on homes, in a move expected to boost housing transactions.
The exemption applies to people who purchase homes worth up to 600 million won (US$536,400) or no bigger than 85 square meters between Monday and the end of December this year. They will be exempt from capital gains taxes if they sell them over the next five years………………………………………..Full Article: Source


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