Suwon-si to Introduce Timing Selection System for Local Tax Audits

The city of Suwon in Gyeonggi Province is introducing the 'Local Tax Audit Timing Selection System' to reduce the tax audit burden on corporations.

The audit timing selection system allows corporations to choose their preferred timing for tax audits in advance.

This enables corporations to anticipate the audit schedule and reduce the burden of preparing documents.

This year, 135 corporations are subject to regular tax audits, and 98 of them are eligible for the timing selection system, excluding those requiring urgent audits or those at risk of exceeding the statute of limitations for assessment.

Suwon City Hall

Suwon City plans to send notification letters to the eligible corporations next month to collect their preferred audit timing. Audits will be conducted from May to December, reflecting the requested timing as much as possible, while for corporations that do not apply, Suwon City will arbitrarily decide the audit timing.

A Suwon City official stated, "By introducing the tax audit timing selection system, we aim to enhance corporate autonomy and encourage active cooperation," adding, "In the midst of an economic crisis, we will reduce the burden on corporations and implement taxpayer-centered tax audits to create a business-friendly city of Suwon."

In 2024, Suwon City collected 4.2 billion KRW from 93 corporations through corporate tax audits.

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