Ulsan City Selects 55 Targets for Regular Local Tax Audits ... To Reflect 'Business-Friendly' Opinions

Ulsan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan City has selected 55 corporations as targets for the 2022 regular local tax audit after reviewing local taxes.

On the 11th, Ulsan City announced that based on Article 82 of the Local Tax Basic Act and Article 11 of the Ulsan City Tax Audit Operation Regulations, corporations were classified into city investigation targets and district/county investigation targets based on their capital and number of employees.

It added that among the corporations subject to direct investigation, excluding those whose investigations have been completed, 55 corporations that have not undergone tax audits for more than the past four years were selected as investigation targets.

The review was conducted with the corporation name, representative name, and corporation address blinded to ensure fairness.

Ulsan City's regular local tax audit starts in March and covers all areas of local taxes, including verifying the accurate reporting and payment of declared tax items such as acquisition tax, appropriate use of tax-exempt real estate for intended business purposes, and the actual use of buildings.

Considering the burden of tax audits on companies due to the slowdown in the local economy caused by the COVID-19 outbreak, Ulsan City plans to notify all selected corporations in advance and conduct a company-friendly tax audit by reflecting corporate opinions as much as possible regarding the audit method, timing, and duration.

Additionally, they plan to produce and distribute a guidebook on the rights relief procedures to ensure taxpayers do not suffer disadvantages.

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