Business · Economy · 2 days ago

South Korea proposal would exclude hotels and hospitals from inheritance tax relief

South Korea proposal would exclude hotels and hospitals from inheritance tax relief

South Korea has proposed narrowing the businesses that can use a tax break when a family business is inherited.

Hotels and hospitals would no longer qualify.

The article says some long-running businesses could face large tax bills and might have to sell to pay them.

Critics say this could disrupt local tourism, health services and jobs.

Sources

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