"Subsidy Verification System to Prevent Tax Waste"
To Be Held at the National Assembly Members' Office Building on the 15th... Co-hosted by the Korea Association of Certified Public Tax Accountants
'Policy Debate on Key Issues and Improvement Directions of the Subsidy Act Amendment' Poster. Provided by Office of Assemblyman Yang Bunam
A forum will be held to discuss institutional improvements aimed at preventing tax leakage and enhancing the efficiency and transparency of subsidy execution.
Yang Bunam, a lawmaker from the Democratic Party of Korea (representing Gwangju Seo-gu-eul), announced on July 14 that he will co-host a policy debate titled "How Should We Verify Subsidies to Prevent Tax Waste?" with the Korea Association of Certified Public Tax Accountants (President Koo Jaei) at the National Assembly Members' Office Building on July 15. The event will focus on key issues and improvement directions for the amendment of the Subsidy Act.
The debate will center on three main topics: expanding transparency in external verification systems, strengthening the principles of competition and accountability, and improving the efficiency of verification frameworks. The forum aims to explore effective ways to introduce practical verification systems. It is expected to serve as the first step in legislative discussions to reduce tax waste and enhance the soundness of fiscal management.
Professor Shin Seungkeun (Korea Polytechnic University, Director of the Tax and Fiscal Reform Center at People’s Solidarity for Participatory Democracy) will deliver the keynote presentation. A comprehensive discussion will follow, moderated by Ahn Changnam, former professor at Kangnam University and President of the World Tax Research Association, with participation from experts in tax, accounting, and civic organizations.
The discussion will include not only tax policy experts but also representatives from taxpayer and civic groups, the Korea Association of Certified Public Tax Accountants, and the Korean Institute of Certified Public Accountants. They will diagnose problems with the current subsidy system from various perspectives and propose directions for reform.
Yang emphasized, "The current subsidy management system continues to face recurring issues such as improper receipt, duplicate payments, and lack of post-execution review during the execution process. It is urgent to move beyond the formalities of preliminary and post-execution reviews and establish a transparent control system, including independent verification by external experts and third-party accounting audits, to build a robust subsidy execution framework."
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