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South Korea’s tax agency said Thursday it has levied nearly 2.5 trillion won ($2.46 billion) in taxes on concealed assets over the past two years since it launched teams to chase tax evaders.
The National Tax Service launched the teams at each regional tax agency in February 2012 that were exclusively tasked with finding hidden assets and slapping taxes on them. The teams were promoted to divisions last September and are now staffed with a total of 212 employees.
According to the NTS, the divisions have levied 2.48 trillion won in taxes on concealed assets and others used for tax evasion purposes since their launch. The agency will collect about 1 trillion won in cash and seize 1.48 trillion won worth of property.
The NTS has also filed lawsuits against tax evaders to claim 568.1 billion won worth of unpaid taxes and referred 387 people to the prosecution so they can be investigated to determine whether they intentionally hid their assets to dodge taxes.
The NTS attributed the results to people’s active tip-offs that led to the discovery of tax evaders. (Yonhap)
The National Tax Service launched the teams at each regional tax agency in February 2012 that were exclusively tasked with finding hidden assets and slapping taxes on them. The teams were promoted to divisions last September and are now staffed with a total of 212 employees.
According to the NTS, the divisions have levied 2.48 trillion won in taxes on concealed assets and others used for tax evasion purposes since their launch. The agency will collect about 1 trillion won in cash and seize 1.48 trillion won worth of property.
The NTS has also filed lawsuits against tax evaders to claim 568.1 billion won worth of unpaid taxes and referred 387 people to the prosecution so they can be investigated to determine whether they intentionally hid their assets to dodge taxes.
The NTS attributed the results to people’s active tip-offs that led to the discovery of tax evaders. (Yonhap)
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Articles by Korea Herald
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