Ministry of Economy and Finance Holds Public Hearing on Draft Amendments to the National Tax Collection Act and Liquor Tax Act

[Asia Economy Reporter Jang Sehee] The Ministry of Economy and Finance announced on the 8th that it plans to hold a public hearing on the revision and amendment bills of the National Tax Collection Act, Liquor Tax Act, and the Act on International Tax Adjustment.

The Ministry will hold a public hearing on the bills promoting the '2020 Tax Legislation Rewrite' at the LW Convention Center in Jung-gu, Seoul, on the 15th.

The hearing will explain the restructuring of the legal system for better taxpayer understanding and readability, reorganization of chapters, sections, and articles, refinement and maintenance of terminology, and supplementation of the delegation system of laws, while gathering opinions from attendees.

The public hearing will be conducted in two parts, including presentations and discussions.

In particular, considering the COVID-19 situation, the hearing will be held both on-site and online to allow for remote participation.

Starting from the 8th, the bills and presentation materials will be posted on the National Petition System and the electronic public hearing bulletin board to collect public opinions.

Meanwhile, the Ministry plans to actively reflect the opinions of the public and experts gathered through the hearing, review them, and submit the bills to this year’s regular National Assembly session after examination by the Ministry of Government Legislation.

This content was produced with the assistance of AI translation services.