The National Tax Service said Sunday that it plans to form a task force to further crack down on offshore tax evaders in an effort to secure revenue needed for the government’s welfare pledges.
The special team, consisting of tax investigators and lawyers, will take full advantage of its information resources through global pacts with 80 countries that also aim to curb tax evasion.
Also, NTS commissioner Kim Duk-joong and tax chiefs from 16 countries agreed to expand cooperation in a Study Group on Asian Tax Administration and Research conference on Jejudo Island last month.
The NTS team will seek ways to seize tax evaders’ assets in Hong Kong and Singapore, two of the most often used locations to hide their funds, through global cooperation.
The toughest challenge for the team will be facing and winning litigations involving massive unpaid taxes as well as securing evidence from overseas, the NTS noted.
The NTS collected a total of 144 trillion won ($136 billion) from January to September this year after levying back taxes and penalties against evaders, down about 4.65 trillion won from a year ago, a National Assembly lawmaker noted.
