Gyeonggi Province collects 8.5 billion won from delinquent local taxes using deposit and financial transaction information
Gyeonggi Province has collected 8.5 billion won in local taxes from delinquent taxpayers by utilizing court deposit and financial transaction data.
Gyeonggi Province has successfully collected 8.5 billion won from delinquent local tax payments by employing information from court deposit accounts and financial transactions. The provincial government conducted a comprehensive survey of over 410,000 taxpayers who had delinquent local taxes exceeding 300,000 won, identifying 1,884 individuals who had a total of 181.1 billion won in court-held deposits. From this, they managed to seize 3.7 billion won recently. The court deposits are funds held in trusts by the judiciary, typically used for the payment of debts in legal proceedings such as debt collection or real estate auctions.
In a further effort to tackle tax delinquencies, the province also investigated 61,000 high delinquent taxpayers with debts exceeding 10 million won, analyzing financial transaction data from 20 banking institutions. This scrutiny resulted in the seizure of 1,074 cases amounting to 61.2 billion won in deposits, from which 4.8 billion won was collected. The province aims to enhance the efficiency of its tax recovery processes while ensuring justice in taxation.
Noh Seung-ho, the head of Gyeonggi Province's Tax Justice Division, stated that the administration plans to maintain continuous management and collection activities for the seized deposits and collectible debts, emphasizing the importance of systematic asset investigations to uphold tax equity in the region.