SEOUL, June 10 (Korea Bizwire) — South Korea’s National Tax Service (NTS) has launched an aggressive crackdown on 710 chronic tax delinquents who collectively owe more than 1 trillion won (approximately US$730 million), revealing widespread use of fraudulent schemes to hide assets and evade payment. The offenders, flagged for property tracking investigations, used tactics ranging [...]
SEOUL, Nov. 16 (Korea Bizwire) — The government on Wednesday disclosed a list of more than 11,000 habitual and large-case tax delinquents nationwide, with an e-cigarette importer and retailer topping the list with about 19 billion won (US$14.3 million) in arrears. The list unveiled by the interior ministry on its website contains the names and [...]
SEOUL, April 23 (Korea Bizwire) — The Seoul metropolitan government said Friday it has seized the cryptocurrencies of hundreds of top tax delinquents who hid their assets in digital form, becoming the country’s first local government to do so. The city government said its tax collection department found the cryptocurrencies of 1,566 individuals and heads [...]