Gyeonggi-do Offers Up to 100 Million KRW Reward for Informants on Local Tax Evasion and Concealment

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will pay a reward of up to 100 million won to informants who report local tax evasion and hidden assets of delinquent taxpayers.

Eligible applicants for the reward include ▲ those who provide important data for calculating evaded local taxes and improper refunds or exemptions ▲ those who report hidden assets of delinquent taxpayers ▲ those who contribute to discovering hidden tax sources.

The reward payment rate ranges from 5% to 15% of the evaded tax amount and collected amount, with a maximum reward of 100 million won.

Reports can be made through the Gyeonggi Province call center (031-120) and tax departments of cities and counties within the province. When reporting, specific evidence such as accounting books that can verify the local tax evasion and hidden assets must be submitted.

The province conducts investigations based on the reported information, and if evaded taxes are recovered and delinquent amounts collected, the reward is paid to the informant after review by the Local Tax Deliberation Committee.

The identity of informants and data providers is strictly confidential according to Article 146, Paragraph 6 of the Local Tax Basic Act.

A provincial official explained, "As local tax evasion and concealment of delinquent taxpayers' assets become increasingly sophisticated, we operate an annual reporting reward system to prevent this in advance and foster a culture of sincere tax payment."

Meanwhile, in 2019, the province paid a reward of 40 million won to a citizen who provided information on local tax evasion.

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