Gyeonggi-do Tracks Delinquent Taxpayers' Registered Movables to Collect 1.4 Billion Won

Gyeonggi Provincial Government Gwanggyo New Office Building

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province has achieved the collection of 1.4 billion KRW in overdue taxes from 178 individuals through a tracking investigation of delinquent taxpayers' 'registered movable property.'

Gyeonggi Province announced on the 21st that, based on the "Act on Security for Movable Property and Claims" newly established in 2012, which allows movable property such as musical instruments like violins and pianos, livestock, medical devices, raw materials, and industrial machinery to have registration certificates similar to real estate, it conducted the nation's first tracking investigation, identifying 494 individuals and collecting overdue taxes from 178 of them.

From May last year to January this year, over eight months, the province conducted a full survey of movable (claims) registered property targeting 180,000 delinquent taxpayers who owed more than 1 million KRW in provincial and municipal taxes, uncovering 11,185 registration records belonging to 494 individuals.

Among the 494 delinquent taxpayers identified, the registration details included 9 people with cranes, 2 with lumber, 17 with raw materials, 33 with accounts receivable, and 2 with livestock such as Hanwoo cattle and pigs. Industrial machinery accounted for the highest proportion, with as many as 410 people registering such assets. The total overdue amount owed by these individuals reached 19 billion KRW.

Mr. A, who lives in Ansan and operates a restaurant, owed 10 million KRW in automobile tax. Despite repeated payment requests from Ansan City, Mr. A repeatedly claimed, "The business is difficult, and I have no money." However, during Gyeonggi Province's recent tracking investigation, it was discovered that he had registered a caravan worth tens of millions of KRW, which was subsequently seized.

Mr. B, residing in Bucheon, has not paid 8 million KRW in local income tax since 2020. Although Mr. B purchased violins and pianos worth several million KRW, he failed to pay taxes and was caught in this investigation, resulting in seizure measures.

Mr. C, living in Pocheon, had been delinquent on automobile and property taxes amounting to 50 million KRW since 2017. During this investigation, multiple cranes registered under his name, worth several hundred million KRW, were discovered and all were seized.

Ryu Young-yong, Director of the Tax Justice Division of the province, stated, "Searches and seizures of delinquent taxpayers were mainly limited to their residences, but this tracking investigation has enabled us to search various storage locations that chronic delinquents have exploited to conceal assets. During these difficult times for the livelihood economy, we will strictly pursue delinquent taxpayers who neglect their tax obligations while enjoying affluent lifestyles, so that the majority of sincere taxpayers do not feel deprived."