Pyeongtaek City "136 Billion Won in Local Taxes Recovered Through Last Year's Tax Audit"

Up 6.3% Compared to the Previous Year

On the 7th, Pyeongtaek City in Gyeonggi Province announced that it had recovered 13.6 billion KRW in evaded taxes through local tax audits conducted last year.

The city explained that it conducted regular tax audits on 100 corporations, uncovering 11.6 billion KRW in acquisition tax and other taxes, and through planned tax audits such as investigations into local resource facility tax surcharges, it identified 2 billion KRW in evaded tax revenue. This amount represents a 6.3% increase compared to 12.8 billion KRW in 2022.

The city revealed that Corporation A, the developer of a housing site project, underreported acquisition tax by 6 billion KRW on publicly owned land that was gratuitously reverted within the project district. Corporation B, which operates in manufacturing and received acquisition tax reductions for acquiring industrial buildings in an industrial complex but used the property for other purposes within less than two years of direct use, was charged 800 million KRW in acquisition tax and other taxes. Corporation C, an urban development project agency, underreported PF loan fees during land purchase and was fined 600 million KRW in acquisition tax and other taxes.

The city plans to provide business-friendly services such as deferring tax audits for companies that faithfully pay taxes to help revive the stagnant local economy, and introducing a tax audit period selection system for the convenience of regularly audited corporations.

A city official stated, "We will realize fair taxation through thorough tax audits on corporations that have omitted or underreported their filings."

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