Ansan City "Conducts Tax Evasion Audit on Local Taxes"

Planned Investigations in Vulnerable Areas Alongside Regular Audits
"Document Reviews to Ease Corporate Burden"

Gyeonggi-do Ansan City announced on the 13th that it has established a tax investigation plan for this year and will conduct tax investigations on omissions and evasion in local tax reporting.

In this investigation, the city plans to conduct not only regular investigations selected through the Local Tax Deliberation Committee among corporations that acquired real estate worth more than 1 billion KRW in the past five years, but also planned investigations on areas vulnerable to local taxes such as investigations of major shareholders with increased stock ratios and acquisition tax reductions.

The main items to be checked are ▲whether reporting and payment have been made ▲whether taxable items have been omitted ▲whether tax-reduced real estate is being used appropriately. For unreported or underreported items and improper tax reductions, additional collection procedures will be taken.

However, considering the burden on companies struggling due to the economic downturn, the city plans to conduct this year's investigations mainly through document reviews. In particular, the city explained that it plans to minimize corporate disadvantages by conducting tax investigations focused on consulting to prevent additional tax burdens caused by erroneous reporting due to lack of legal knowledge.

Previously, the city achieved results by collecting 6.6 billion KRW through regular tax investigations and planned investigations in vulnerable areas on 223 corporations last year.

Do Won-jung, Director of the Planning and Economy Office of Ansan City, said, “We will encourage sincere reporting and payment of local taxes and secure stable independent revenue to realize transparent and trustworthy tax administration.”

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