Tax Authorities Focus on Professional Class

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Tax Authorities Focus on Professional Class

The National Tax Administration (NTA) has reportedly investigated 248 professionals for tax evasion.
According to an NTA source Sunday, it singled out those who are believed to have reported false details concerning yearly income for 1998 after comparing information with their records on value-added tax items.
Apparently the NTA will be receiving professional workers' regular tax reports on earnings for the year's first half and inputting all 210,000 professionals' tax material on computer for more effective control.
In addition, it will rationally infer income tax amounts, based on previous earnings and other sources, of deluxe restaurants, inns and entertainment places to lead to more honest and accurate reporting in the future.
For the 2,534 small and medium-sized venture companies, it will provide tax rebates for receiving credit card payments from customers because such payments are convenient to verify and monitor.
Bong Hwa-shik:trojans@joongang.co.kr
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