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Biz News Korea(Eng)
Seoul to apply big data on tax system by 2019
- Collected
- 2017.11.23
- Distributed
- 2017.11.24
- Source
- Go Direct
S. Korea`s National Tax Service Commissioner Han Sung-hee
The National Tax Service on Wednesday said that it will upgrade its tax administration through application of big data technology over the next two years. It plans to organize a task force to prepare a comprehensive outline by the end of this year with an aim to establish big data-based electronic system by 2019. The tax office aims to apply big data to its entire taxation system including tax payment and tax audit from the second half of 2019.
Big data refers to large sets of data being created by people and machines. Compared with traditional data processing, it helps to generate more meaningful information learned through analyzing vast data.
The Korean tax bureau expects big data application can help provide customized service for taxpayers and strengthen watch on regular tax evaders.
In addition, the tax office plans to improve tax collection and apply stricter rules on delinquent individual and business taxpayers.
By Chun Jung-hong and Cho Jeehyun
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