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S. Korea to minimize tax probe on smaller firms

All Headlines 15:00 March 08, 2018

SEOUL, March 8 (Yonhap) -- South Korea's top tax official vowed Thursday to minimize probes of small and medium-sized enterprises as the government is pushing to level the playing field for smaller firms in a country dominated by conglomerates.

Han Seung-hee, commissioner of the National Tax Service, also offered to exclude startups and small companies that create new jobs from tax audits.

"We will concentrate our capacity on supporting voluntary tax filing, while minimizing inspections of smaller firms," he said during a meeting with leaders of small businesses.

He also said the tax agency will improve convenience in tax payment by establishing an administrative system based on big data and an improved mobile electronic payment system.

In this file photo, taken on Feb. 2, 2018, Han Seung-hee, commissioner of the National Tax Service, answers a question during a parliamentary committee meeting at the National Assembly in Seoul. (Yonhap)


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