Two Thirds of Entrepreneurs Don"t Pay Any Taxes
Two thirds of all entrepreneurs do not pay any taxes whatsoever.According to data the National Tax Administration submitted to the National Assembly on October 27, 2.4 million entrepreneurs among a total of 3.6 million did not pay any taxes at all last year.
In case of salary incomers, those who do not pay taxes at all are just a third (3 million 268,000, 32%) of a total (10 million 212,000).
The reason why the rate of 'non-payers' is so high is that there are many entrepreneurs who do not report their taxable earnings honestly if at all.
Accordingly, tax experts point out, ' It is necessary for the government to provide an electronic system which can check all tax bases.'
with the Korea JoongAng Daily
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