Taxation on clergy delayed by one year to 2016
By Cho Jae-hyon The government has decided to put a controversial plan to tax the clergy on hold for a year, the Ministry of Strategy and Finance said Thursday.The administration originally planned to levy taxes on members of the clergy from next year.“The decision to put off taxation to 2016 is aimed at giving certain religious groups a chance to voluntarily report their incomes,” said the ministry in a statement.The grace period of one year came after certain religious groups strongly objected to the planned taxation.However, whether the government will carry through with the plan from 2016 remains uncertain, given that the general election is scheduled for that year and the presidential election is the following year.The decision is part of changes to the 2014 tax code.Under the new tax code, the government will apply a 10 percent tax credit on wage increases that exceed average gains for the preceding three years.This tax credit drops to 5 percent for people working for large conglomerates and does not apply to senior executives and those with annual incomes exce
