Suwon City to Implement Local Tax Audit Timing Selection System, Send Guidance Letters in March

Suwon City in Gyeonggi Province will implement the "Local Tax Audit Timing Selection System," which was introduced last year to positive feedback, starting in March.

The Local Tax Audit Timing Selection System allows corporations to submit their preferred audit period in advance so that it can be reflected in the audit schedule. It is a policy designed to ease the management burden on companies arising from tax audits.

Among the 97 corporations subject to regular tax audits last year, 60 applied for the program. As they were able to select and coordinate the audit timing in advance, the burden of preparing for tax audits was reduced, and the ability to predict and manage schedules helped them establish their management plans, earning positive reviews.

Suwon City Hall

This year, the system will apply to 91 corporations, excluding those that require urgent audits or for which schedule adjustments are difficult because the statute of limitations on tax assessment is imminent. Based on last year's operational results, the city plans to enhance the effectiveness of the system, increase acceptance of audits, and continue to reduce the burden on businesses.

Suwon City will send guidance letters to eligible corporations in March to accept applications for the Local Tax Audit Timing Selection System and will conduct tax audits sequentially from May to December. For corporations that do not submit their preferred timing, Suwon City will set the audit schedule at its own discretion.

An official from Suwon City said, "By allowing corporations to choose the timing of tax audits, we will encourage them to actively cooperate with the audits," adding, "We will enhance trust in tax administration through business-friendly tax audits."