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Gov"t Imposes 1.4 Trillion Won in Additional Taxes on Tax Cheats

Dec 14,1998
The National Tax Administration (NTA) announced on December 14 that it imposed 1.4 trillion won in additional taxes on tax payers who were not sincere in reporting their taxes.
This figure is equivalent to the amount the government had assessed for the previous five years, from 1993 to 1997.
The government decided to crack down on dubious tax claims and unreported income this year and had conducted wide scale audits and investigations on tax payers four times this year alone.
The NTA announced that it is now investigating 961 tax payers, mainly composed of high income earners.


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