Gyeonggi-do Offers 100 Million Won for Tips on Hidden Assets of Tax Delinquents

Gyeonggi-do Tax Evasion Whistleblower Reward Notice Poster

Gyeonggi Province will pay rewards of up to 100 million KRW to tax evasion informants.

Gyeonggi Province announced on the 20th that it has been implementing the 'Local Tax Evasion Amount and Delinquent Taxpayer Hidden Assets Civilian Reporting Reward System' since 2019, and has paid a total of 46.78 million KRW in rewards for four reports so far.

Through these reports, Gyeonggi Province has collected a total of 408.2 million KRW in taxes.

The reward recipients in Gyeonggi Province include ▲those who provide important information for calculating local tax evasion amounts and improper refund or exemption amounts ▲those who report hidden assets of delinquent taxpayers ▲and those who contribute to discovering hidden tax sources.

The list of high-amount delinquent taxpayers, who are the main targets of tax evasion and asset concealment, can be checked on the websites of the province, city and county offices, and on the Wetax platform.

Gyeonggi Province stated that the current local tax reporting reward system has relatively high payment criteria and low payment rates compared to national taxes or customs duties, which hinders the activation of the reward system, and has requested the Ministry of the Interior and Safety to ease the payment criteria and increase the payment rates.

Additionally, to eradicate tax evasion in blind spots of taxation, the province discloses the list of high-amount and habitual delinquent taxpayers annually, utilizes specific financial transaction information, operates an electronic management system for virtual asset delinquent tax disposition, and develops new collection methods such as seizing delinquent taxpayers' bank safe deposit boxes to find hidden assets and encourage tax obligation compliance.

Ryu Young-yong, Director of the Tax Justice Division of Gyeonggi Province, said, "The methods of tax evasion and asset concealment by high-amount delinquent taxpayers are becoming increasingly sophisticated, making the importance of reports even greater," and added, "Since the identity of informants is kept confidential, the interest of residents is greatly needed."

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