이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
S. Korean gov’t to enhance tax crackdown on overseas card spending
- Collected
- 2017.07.23
- Distributed
- 2017.07.26
- Source
- Go Direct
According to the Office for Government Policy Coordination and the Ministry of Strategy and Finance on Friday, the government plans to revise the country’s customs law by expanding the range of overseas credit card spending information collected by the Korea Customs Service.
The plan - which is one of the new government’s 100 major projects - is part of the government’s efforts to crack down any tax evasion attempts. The enhanced regulation will be applied as early as next year.
An unnamed government official who is familiar with the plan said the number of tax omission cases has skyrocketed in line with the rise in the number of people bringing in luxury goods from their overseas trips and buying goods directly from offshore online platforms. The official added that due to limited resources, it is difficult to inspect all of travelers’ belongings or couriers and parcels, so the government has decided to secure more tax information by examining credit card spending.
Currently, Korea Customs Service receives credit card transaction information of consumers who spend $5,000 or more overseas every quarter from credit card companies and the Credit Finance Association, and manage them under the so-called black list. The government plans to either expand the range of notification on credit card spending or receive information more frequently on a monthly basis.
By Boo Jang-won
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]