KCS Publishes List of 261 Customs Delinquents... Increased Rewards for Reporting Hidden Assets

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korea Customs Service will disclose the list of high-amount and habitual customs tax delinquents. The disclosure criteria are those who have unpaid taxes of 200 million KRW or more, or have been delinquent for over one year.

On the 23rd, the Korea Customs Service announced that it will publish the list of 261 "2021 High-Amount and Habitual Delinquents" on the Customs Service website and customs bulletin board.

The disclosed list includes 175 individuals and 86 corporate entities. The total customs taxes they owe amount to 1.0029 trillion KRW.

Among them, the highest amount owed by an individual is 448.3 billion KRW, and the highest amount owed by a corporation is 29.2 billion KRW.

There are 21 newly listed delinquents this year, who are identified as having unpaid customs taxes totaling 83.6 billion KRW.

Notably, the individual with the highest amount owed is the secondary taxpayer for the corporation with the highest delinquency, resulting in both the individual and the corporation being newly included on the disclosed list simultaneously.

In addition to disclosing the list of high-amount and habitual delinquents, the Korea Customs Service will impose administrative sanctions such as travel bans and providing delinquency information to the Korea Credit Information Services.

Furthermore, for delinquents who deliberately evade tax payments, the agency plans to operate a dedicated team to track hidden assets and conduct forced collection activities by investigating financial assets under the names of relatives.

Meanwhile, the Korea Customs Service has decided to increase rewards starting next year to encourage reporting of hidden assets by delinquents.

The reward paid to informants will be raised from the current 15% to 20% of the collected amount, aiming to actively promote the reporting of hidden assets of delinquents.

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