National Tax Service "We Help You Find Your Tax Refunds"... Unclaimed Refunds Amount to 143.4 Billion Won

Early Implementation to Support Taxpayers Struggling Due to COVID-19

[Asia Economy Reporter Kwangho Lee] The National Tax Service announced on the 25th that it will start the 'Unclaimed Refund Search' about one month earlier than usual to help taxpayers facing economic difficulties due to the novel coronavirus disease (COVID-19).

As of May, unclaimed refunds such as earned income tax credit, child tax credit, value-added tax, and comprehensive income tax refunds that taxpayers have not collected amount to 43.4 billion KRW.

Unclaimed refunds can be checked through Hometax, Mobile Hometax (Sontax), and Government24. Taxpayers can receive the refunds by following guidance from the local tax office and having the amount deposited into their bank account or by visiting the post office to collect it.

This year, in addition to the existing notification methods (mail, phone, etc.), the National Tax Service plans to send tax refund notices to mobile phones using CI information through the 'Mobile Mail Sending System.'

Furthermore, for taxpayers who received earned income and child tax credits via bank transfer, the same account will be used to enable them to conveniently claim their unclaimed refunds.

A National Tax Service official stated, "We will continue to promote the search for unclaimed refunds to protect taxpayers' property rights and support the national economy to the best of our ability."

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