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S. Korea to discuss digital tax administration with Latin American countries

All Headlines 13:52 June 24, 2019

SEJONG, June 24 (Yonhap) -- South Korea's tax agency said Monday it launched an international forum with Latin American and Caribbean countries on digital tax administration.

The National Tax Service (NTS) said 17 high ranking tax officials from 12 countries in the region, as well as professors and other private sector leaders, are set to discuss digitization in tax administration, transparency and taxpayer compliance during the forum that runs from Monday through Friday at a Seoul hotel.

"The primary purpose is to share South Korea's experience on development and exploitation of a digitized tax system with Latin American and Caribbean countries and to enhance partnerships," the tax agency said.

The 12 countries are Guatemala, Dominican Republic, Mexico, Brazil, Argentina, El Salvador, Uruguay, Chile, Costa Rica, Colombia, Paraguay and Peru.

The NTS said it hopes that the forum will contribute to catalyzing partnerships between the tax administrations of South Korea and those in Latin American and Caribbean countries.

The forum is a follow-up to a memorandum of understanding signed between the NTS and the Inter-American Development Bank (IDB) in April this year as part of efforts to promote mutual cooperation.

The Inter-American Development Bank is the largest source of financing for economic, social and institutional development in Latin America and the Caribbean. South Korea joined the IDB in 2005.

entropy@yna.co.kr
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