Changwon City Suspends Tax Collection on Long-Term Seized Properties of Small-Scale Tax Delinquents

Changwon City Hall Panorama

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Sharon] Changwon City, Gyeongnam Province announced on the 13th that it will suspend delinquent tax collection actions on long-term seized properties of low-income tax delinquents that have no practical collection benefits.

The purpose is to help the economic recovery of low-income tax delinquents by releasing seizures on properties that have no liquidation value even after going through procedures such as public auctions following local tax delinquency seizures.

From January to March, the city conducted a comprehensive investigation targeting real estate with an estimated value of 500,000 KRW or less, which is the minimum delinquent tax collection cost, or real estate that is practically impossible to auction, as well as long-term unused seized vehicles over 20 years old. Among them, 265 parcels of real estate and 1,818 vehicles with no practical benefit from delinquent tax collection were selected, and after review by the Local Tax Deliberation Committee last month, it was decided to suspend delinquent tax collection actions.

Until now, when taxpayers became delinquent due to economic recession and business failure, administrative sanctions such as asset and wage seizures and consent to credit information provision made recovery difficult. However, with this decision to suspend delinquent tax collection enforcement, it is expected that opportunities for re-starting businesses and re-employment will open up, providing relief for economic activities.

Gu Jin-ho, head of the Taxation Division of Changwon City, said, "This decision will have a twofold effect of supporting the economic recovery of delinquents and reducing the scale of delinquency by organizing long-term seized properties," adding, "We will actively pay attention to even small matters so that taxpayers struggling with delinquency can restart at any time."

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