S. Korea Uses Big Data to Track Down 812 Tax Evaders | Be Korea-savvy

S. Korea Uses Big Data to Track Down 812 Tax Evaders

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SEOUL, Oct. 6 (Korea Bizwire)The National Tax Service announced on Monday that 812 delinquent taxpayers with hidden assets will be subject to priority investigation.

The tax agency warned that the suspects will be tracked down and hidden assets will be confiscated through field investigations and tracing financial accounts of other family members.

This year, new big data technology was used to locate the addresses of the tax evaders.

Data on real estate of close relatives and inheritance were used to track down hidden assets.

The new big data technology boasted high accuracy rates by locating correct addresses for 24 out of 28 delinquent taxpayers


Image Credit: Yonhap / National Tax Service / photonews@koreabizwire.com

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