Kim Chang-ki, Commissioner of the National Tax Service, "Illegal Private Loans Will Be Strictly Punished Using All Means" (Comprehensive)

New Year's Address: "We Will Track High-Amount and Habitual Tax Evaders Living Luxuriously"
Promise of Sufficient Tax Administration Support for Businesses

Kim Chang-ki, Commissioner of the National Tax Service, is delivering a New Year's address at the opening ceremony on the 2nd.

Kim Chang-gi, Commissioner of the National Tax Service, stated on the 2nd, "We must use all available means to strictly punish tax evasion activities that harm the stability of ordinary citizens' lives and exploit the difficulties of the vulnerable, such as illegal private loans."

In his New Year's address that day, Commissioner Kim said, "We will conduct tax investigations, asset tracking, and cooperation with related agencies centered on the task force (TF) to eradicate illegal private loans."

He also emphasized a thorough verification policy regarding tax evasion. He said, "We will thoroughly verify tax evasion activities that cause sincere taxpayers to feel deprived, such as sophisticated offshore tax evasion, illicit tax evasion by large corporations and wealthy individuals, and public interest corporations that misuse donations," adding, "We will also relentlessly pursue high-amount and habitual tax delinquents who hide assets through cunning methods to evade tax payments and lead luxurious lifestyles."

Commissioner Kim evaluated that efforts made last year for a "National Tax Service for the People, Trusted Tax Administration" achieved some results. He explained, "We supported taxpayers to conveniently file through various methods such as the full income tax filing service and automatic application for earned income tax credit," and "We strived to realize fair taxation by strictly responding to malicious tax evasion and delinquency."

This year, the plan is to provide sufficient and timely tax support to help small business owners and companies regain vitality. Commissioner Kim emphasized, "We will provide earned income tax credits more conveniently and promptly to low-income households," and "For struggling small business owners, we will ensure that the warmth of tax administration spreads evenly where needed through early refund payments and expanded deadline extensions."

He promised sufficient and timely tax support for companies. He said, "Companies playing a pivotal role in the domestic economy, such as those in export and new industry sectors, will be relieved of tax verification burdens so they can focus solely on business management without worrying about tax issues and compete on the global stage," adding, "We will provide comprehensive support, including prioritizing tax consulting for deductions and exemptions and pre-review of research and development (R&D) tax credits."

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