Bucheon City in Gyeonggi Province announced on the 20th that it will suspend the enforcement of delinquent tax collection, such as releasing seizures, on seized properties owned by delinquent taxpayers that are deemed to have no practical collection value.
This measure aims to support the economic recovery of low-income delinquent taxpayers by releasing seizures on properties that have no liquidation value even after going through procedures such as public auctions following local tax delinquency seizures, and to reduce unnecessary administrative resource consumption.
The city conducted a comprehensive investigation targeting seized vehicles that have been held for years without public auction or any practical benefit. Among these, 95 vehicles with no practical value for delinquent tax collection were selected, and on the 12th, the Bucheon City Local Tax Deliberation Committee reviewed and decided to suspend the enforcement of delinquent tax collection.
The seized properties subject to suspension of delinquent tax collection will be publicly announced on the city’s website for one month before the seizure is released. If the delinquent taxpayer has no other assets afterward, the statute of limitations will proceed for five years, and the right to collect the delinquent taxes will be completely extinguished.
As a result, low-income delinquent taxpayers who have faced many legal restrictions due to property seizures will have opportunities for economic recovery and a fresh start.
A Bucheon City official stated, "We will track hidden assets of delinquent taxpayers and develop new collection methods to carry out strict delinquent tax collection activities," adding, "For low-income delinquent taxpayers, we will devise policies to serve as stepping stones for economic recovery and focus administrative efforts on effective delinquent tax enforcement."
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