Osan City in Gyeonggi Province announced on the 29th that it was selected as the best institution in the 2024 corporate tax audit evaluation conducted by the province.
This evaluation is an award given by the province to encourage competition among cities and counties and to recognize contributions to stable tax revenue expansion. The province divided the 31 cities and counties into three groups based on population and tax revenue size and evaluated the overall corporate tax audit work from last year.
Osan City received high scores in six indicators, including corporate tax audit performance and compliance rate, ranking first (best) in Group 3, receiving consecutive institutional awards following last year’s recognition.
The city discovered omitted tax sources in the regular corporate tax audit, such as underreporting of acquisition tax base last year, and secured 3.1 billion KRW in independent revenue, a 186% increase compared to the previous year, through planned audits including the first-time homebuyer tax reduction investigation.
A city official stated, "This year, we will implement a tax audit preferred timing selection system and strengthen voluntary reporting and payment promotion to create a sound taxpaying culture through business-friendly tax audits."
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