Icheon City "Suspension of Enforcement on Seized Properties with No Collection Benefit"

Over 210 Vehicles Aged Over 20 Years with No Inspection, Insurance, or Regulatory Violations for More Than 3 Years

On the 25th, Icheon City in Gyeonggi Province announced that it will suspend the execution of delinquent tax collection measures, including the release of seizure, for seized properties owned by delinquent taxpayers that are deemed to have no collection benefit.

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 due to local tax delinquency, and to reduce unnecessary administrative effort.

The suspension targets 210 vehicles that are over 20 years old, have not undergone vehicle inspection or subscribed to compulsory insurance for more than 3 years, or have had no violations of vehicle operation-related laws for more than 3 years. The city decided to suspend the execution of delinquent tax collection measures after deliberation by the Local Tax Deliberation Committee. The list of seized properties subject to suspension will be announced on the Icheon City website for one month, and the seizure will be released in December.

After the release of seizure, a five-year statute of limitations will proceed for delinquent taxpayers with no other assets. However, the city plans to regularly investigate hidden assets such as real estate and deposit claims of the delinquent taxpayers during this period and immediately seize them upon discovery.

An official from Icheon City stated, "We expect that this measure will prevent infringement of taxpayers' rights, organize unnecessary seizures, and allow us to focus on effective delinquent tax collection."