“Effectiveness of New Collection Methods” Chungnam Achieves 81% of Delinquent Local Tax Collection Target

Chungnam Province collected over 50 billion KRW in overdue local taxes by the end of last month. This amount corresponds to 81% of the annual target, and the new collection methods are credited for their effectiveness.

Chungnam Province announced on the 23rd that as of the end of last month, it had collected 50.4 billion KRW out of the 62 billion KRW target for overdue local tax collection this year.

This is the first time that overdue local tax collections have exceeded 50 billion KRW from the beginning of the year to the end of July, marking the highest collection amount and rate for the same month (July) in history, Chungnam Province emphasized.

Previously, Chungnam Province introduced new collection methods such as overdue disposition of unpaid health insurance and national pension refund payments and applied them to field collection activities.

In the second half of this year, for the first time, a full investigation of mutual finance investment funds such as local agricultural cooperatives is underway to carry out overdue dispositions. Additionally, a virtual asset electronic seizure system has been introduced to strengthen overdue dispositions on hidden assets.

Furthermore, to improve the efficiency of local tax overdue collections, Chungnam Province and city/county governments have jointly conducted home searches targeting high-amount and habitual defaulters, while simultaneously carrying out seizure and collection of financial assets, and public auctions of real estate and vehicles.

Chungnam Province plans to focus tax administration capabilities together with city and county governments and continue overdue dispositions to exceed this year’s overdue collection target.

A Chungnam Province official stated, “In the second half of the year, we plan to strengthen field-centered collection activities such as joint home searches and joint crackdowns on overdue vehicles. Chungnam Province will strictly respond to malicious defaulters who fail to fulfill their tax obligations and disrupt tax order.”

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