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 [...]
SEJONG, Aug. 18 (Korea Bizwire) — More luxury goods or products purchased overseas purchased by major tax evaders are being confiscated when they re-enter South Korea ever since the policy was first implemented in 2017. The Korea Customs Service reported 23 cases of confiscation in 2017, 59 cases in 2018, and 69 cases in 2019. [...]
SEOUL, Oct. 24 (Korea Bizwire) — Many people caught not paying taxes receive lenient punishment, parliamentary data showed Tuesday. Only 13,548 tax evaders have been indicted in the past five years, constituting 20.9 percent of total evaders in comparison to the average indictment ratio of 37.9 percent of other crime suspects, the findings by the [...]
SEOUL, Korea, April 16, 2014 (Korea Bizwire) – According to data published by the National Tax Service on tax evasion cases that infringed on people’s livelihood, there are still so many loan sharks, private supplementary schools taking exorbitant monthly fees, and funeral parlors charging much more for coffins and burial shrouds. The government agency said [...]