S.Korea to use $4.5 bln in excess tax revenue to aid small businesses

  • 11/23/2021
  • 00:00
  • 13
  • 0
  • 0
news-picture

SEOUL, Nov 23 (Reuters) - South Korea"s finance minister on Tuesday said the government will use part of excess tax revenue collected this year to aid small businesses hit by measures to contain COVID-19 outbreak. Hong Nam-ki, speaking at a policy meeting, said some 5.3 trillion won ($4.46 billion) of excess tax revenue this year will be used as subsidies and cheap loans for small businesses, while another 2.5 trillion won of tax revenue will be used to trim treasury bond issuance. The finance ministry said it expects 19 trillion won of excess tax revenue this year. ($1 = 1,189.5400 won) Reporting by Cynthia Kim; Editing by Sam Holmes

مشاركة :