North Korea

(Draft Bill)

Democratic United Korea with South Korean law

₩140,000 monthly Basic Income per citizen under a ₩1,680,000 yearly income

₩1000 an hour minimum wage (including gig work)

20% consolidated flat tax over ₩480,000 a year (with double taxation)

20% corporate tax on profits

20% value added tax tax on each stage of sale (paid quarterly)

20% value added tax on imports

VAT tax registration over ₩480,000 a year

Sole trader registration over ₩480,000 a year

Recreational drugs are decriminalized

Estimated Revenue: ₩18 trillion a year (₩1 trillion surplus a year)