Bucheon City in Gyeonggi Province announced that since March, it has been strengthening its "Tax Correction" initiative to prevent omissions in local tax revenue and to establish a culture of diligent tax payment. In particular, by focusing on unregistered business establishments, the city recently collected 240 million won in local taxes from 134 cases.
The "Tax Correction" initiative is part of the city’s tax administration efforts to actively identify hidden taxable entities and prevent tax omissions. Its purpose is to ensure fair assessment of local taxes by locating businesses and taxes that have been omitted, despite their obligation to file and pay taxes.
The city conducted investigations targeting unregistered business establishments that failed to report and pay monthly taxes such as the Resident Tax (employee portion) and Local Income Tax (special collection portion). By thoroughly inspecting businesses not listed in official records, the city was able to uncover previously omitted tax sources.
Additionally, the city closely monitors the status of business registrations and actual operations on a regular basis. In particular, it uses digital analysis of various information such as bid announcements, recruitment notices, and workforce assignments to identify unregistered business establishments. The city also continues its investigations by checking local company websites and tracking leads by changing search keywords.
The entire amount of taxes collected through this effort will be allocated to Bucheon City’s local tax revenue and will be used for citizen-focused administrative services such as welfare, culture, and education.
A Bucheon City official stated, "Securing stable financial resources is the starting point for all policies that benefit citizens," adding, "We will carefully examine every case to ensure that no hidden taxes are missed, and we will realize a fair tax administration that protects diligent taxpayers."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
