Government Strengthens Crackdown on High-Value and Habitual Tax Delinquents... Additional Asset Tracking Teams Formed

The government has decided to create an analytical system utilizing big data to strengthen crackdowns on tax delinquents.

They also plan to deploy additional tracking teams to locate hidden assets of delinquents.

The Ministry of Economy and Finance announced on the 17th that such measures were discussed at a meeting on managing delinquent tax amounts, chaired by Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho.

The amount of delinquent taxes under the jurisdiction of the National Tax Service reached 102.5 trillion won as of last year, while the amount under the Korea Customs Service also reached 1.9 trillion won.

At the meeting, Deputy Prime Minister Choo stated, "Diligent taxpayers should never feel disadvantaged," urging the National Tax Service and Korea Customs Service to strongly respond to tax evasion.

Accordingly, the National Tax Service decided to strengthen on-site collection by conducting strategic analysis of high-amount and habitual delinquents using big data, and to form additional dedicated teams for asset tracking.

The Korea Customs Service will reinforce hidden asset tracking centered on dedicated teams and operate the previously biannual 'Delinquent Tax Amount Intensive Clearance' on a regular basis until the end of this year.

Deputy Prime Minister Choo also requested authorities to respond flexibly so that economically vulnerable delinquents do not face increased hardship.

Deputy Prime Minister for Economy Choo Kyung-ho is delivering opening remarks at the Emergency Economic Ministers' Meeting and Export Investment Measures Meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 17th. Photo by Dongju Yoon doso7@

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