Jinju City Wins 'Excellence Award' at 2021 Local Tax Development Forum

Presentation of Research Projects by Tax Officials from 17 Cities and Provinces Nationwide

2021 Local Tax Development Forum Excellence Award Winner [Image Source=Jinju-si]

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Seo Yang-hee, an administrative officer in Jinju-si, Gyeongsangnam-do, received the Excellence Award, a ministerial award, at the '2021 Local Tax Development Forum' hosted by the Ministry of the Interior and Safety on the 11th.

Officer Seo attended this forum as a representative of Gyeongsangnam-do after receiving the Grand Prize at the local tax training session held in July for city and county tax officials in Gyeongsangnam-do.

Due to the novel coronavirus disease (COVID-19), the forum was broadcast live on YouTube, where tax officials from 17 cities and provinces nationwide presented research projects on local tax development plans. Officer Seo gave a presentation titled "A Study on Local Taxation Measures for Artworks," receiving favorable evaluations from judges and participants.

Officer Seo stated, "Until now, high-priced artworks have been used as means of wealth accumulation or transfer due to their property value but were excluded from acquisition tax. Especially, considering the recent craze for artworks as a new form of financial investment, it is now in line with tax justice and can contribute to increasing local tax revenue to impose acquisition tax on transactions of artworks above a certain value."

Meanwhile, the Local Tax Development Forum has been held annually since 1983 and is the largest event in the local tax field jointly hosted by the Ministry of the Interior and Safety and related organizations such as the Korea Local Tax Research Institute.

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