Junggyeonryeon Supports Resolving Tax Administration Difficulties for Mid-sized Enterprises

'National Tax Service Investigation Bureau - Mid-sized Companies Meeting' Held

The Korea Federation of Medium-sized Enterprises announced on the 5th that it held a ‘Korea National Tax Service (NTS) Investigation Bureau - Medium-sized Enterprises Meeting’ to seek solutions for resolving tax administration difficulties faced by medium-sized enterprises. The meeting held on the 2nd was attended by Jeong Jae-su, Director of the NTS Investigation Bureau, Lee Ho-jun, Executive Vice President of the Federation, and about 20 representatives from medium-sized enterprises.

A representative from the Federation stated, “The difficulties experienced on-site are serious, such as requesting duplicate documents that were already submitted at the start of tax investigations or requesting business confidential materials that were not agreed upon in advance,” and added, “Unnecessary duplicate document requests should be avoided, and the investigation procedures should be reasonably improved by minimizing on-site investigations.”

Jung Jae-su, Director of the National Tax Service Investigation Bureau (ninth from the left), and Lee Ho-jun, Executive Vice Chairman of the Korea Federation of Medium-sized Enterprises (seventh from the left), are taking a commemorative photo with the attendees of the meeting.

The medium-sized enterprise sector argued that, for smooth business management, specific improvement measures should be prepared, such as adjusting the timing of tax investigations, exempting regular tax investigations, extending corporate tax payment deadlines, expanding the export small and medium-sized enterprise tax support package benefits to include medium-sized enterprises, and minimizing irregular investigations. The Federation also requested improvements to the national tax statistics system to establish effective support policies for medium-sized enterprises, including the creation of a new medium-sized enterprise category and the provision of taxation data for calculating basic statistics on medium-sized enterprises.

Lee Ho-jun, Executive Vice President of the Federation, said, “Although the NTS has continued efforts to ease the tax burden on companies, such as announcing tax investigation innovation measures last year, it is clearly limited that most support measures, including exemption from regular tax investigations, apply only to small and medium-sized enterprises,” and added, “We hope that proactive efforts for tax administration innovation will be made so that the competitiveness of medium-sized enterprises active in the global market is not undermined by excessive tax administration burdens.”

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