National Tax Service Commissioner Meets SME Representatives, Promises to Strengthen Tax Support

Kim Dae-ji, Commissioner of the National Tax Service (center), is attending a meeting with representatives of tenants in the Daedeok Industrial Complex in Daejeon on the morning of the 8th and posing for a commemorative photo.

[Sejong=Asia Economy Reporter Kim Hyunjung] Kim Daeji, Commissioner of the National Tax Service, met with representatives of small and medium-sized enterprises (SMEs) whose business conditions have worsened due to rising raw material prices and supply chain disruptions, and pledged tax support.

On the morning of the 8th, Commissioner Kim held an on-site communication meeting with entrepreneurs from the Daejeon area, including venture companies worth over one trillion won, at the Daedeok Industrial Complex in Daejeon, seeking tax support measures to resolve management difficulties. The Daedeok Industrial Complex was designated as a research and development special zone in 2005, and as of last year, recorded an annual production value of 6.8 trillion won and exports of 2.3 billion dollars.

He stated, "We have reduced the burden of tax audits by excluding or postponing tax investigations for innovative SMEs recognized for their technological capabilities and job-creating companies striving to expand employment," adding, "To eliminate uncertainties regarding the appropriateness of R&D tax credits so that SMEs can focus on research and development activities, we have established and are operating a dedicated pre-assessment team for SMEs." He continued, "We are also actively implementing measures such as deadline extensions, early refund payments, and exemption from tax payment guarantees to support the business activities of SMEs struggling due to COVID-19 and other factors."

The company representatives attending the meeting proposed ▲ tax support to boost economic vitality ▲ relief of inheritance tax burdens to support business succession ▲ active tax support for companies facing management difficulties. In response, Commissioner Kim said, "We will actively work to create a tax environment that allows companies to focus on management by consulting with relevant ministries."

A National Tax Service official said, "Going forward, the National Tax Service will continue to strengthen communication with taxpayers through various channels to listen to voices from the field and will make continuous efforts to prepare support measures that can back the growth of companies."

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