Sejong City Offers 'Rewards' for Reporting Tax Evasion and Hidden Assets

[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City announced on the 11th that it will provide rewards to informants who report tax evasion and concealed assets.

The eligible recipients include ▲ providers of data related to tax evasion, unjust refunds, or exemptions ▲ informants reporting concealed assets of delinquent taxpayers ▲ informants who help impose taxes on abandoned or hidden tax sources ▲ contributors to increased tax revenue through creative proposals or systems.

The rewards for informants are as follows: 15% or more of the reported tax evasion amount starting from 30 million KRW, 15% or more for concealed assets starting from 10 million KRW, 5% of the collected amount from hidden tax sources, and 300,000 KRW per creative proposal or system.

The final recipients and reward amounts will be determined within the budget after review and resolution by the Local Tax Deliberation Committee.

Reports can be submitted by attaching documents and ledgers that verify tax evasion, concealed assets of delinquent taxpayers, or hidden tax sources, and sending them by mail or fax to the Taxation Division or Tax Source Management Division of the City Hall.

A city official stated, “Citizen participation is essential to create a society where honest taxpayers are respected and tax justice is realized,” and added, “We hope for active interest and participation from citizens in reporting tax evasion and concealed assets.”

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