Incheon City Offers Up to 100 Million KRW Reward for Reporting Hidden Assets of Tax Delinquents

Incheon City announced on the 17th that it will pay a reward of up to 100 million KRW for reporting hidden assets of local tax delinquents.

This system was established to eradicate malicious delinquent behaviors such as asset concealment or intentional evasion of tax collection through citizen reports.

Reports of hidden assets of delinquents can be made through Wetax (www.wetax.go.kr), Incheon City e-Tax (etax.incheon.go.kr), KakaoTalk Incheon City Local Tax Chatbot, fax, or mail. When reporting, specific evidence such as accounting documents, related ledgers, sales contracts, etc., that can verify the delinquent's hidden assets must be submitted together.

Incheon City Hall

The city will thoroughly investigate the reported information, and if more than 10 million KRW is collected based on this, a reward will be paid after deliberation by the Local Tax Deliberation Committee. The reward is 5-15% of the collected amount, with a maximum of 100 million KRW.

An Incheon City official stated, "To promote reporting, we plan to actively publicize through card news, social networking services (SNS), blogs, and outdoor electronic billboards," and added, "We will track the reported information to the end and collect the delinquent taxes."