S. Korea and Indonesia to address double tax avoidance
SEJONG, July 22 (Yonhap) -- South Korea and Indonesia agreed Monday to actively address double tax avoidance in a move to further boost bilateral trade and investment, South Korea's tax agency said.
National Tax Service Commissioner Kim Hyun-jun and his Indonesian counterpart, Robert Pakpahan, also agreed to exchange tax information to prevent offshore tax evasion.
The two met at the Seoul office of the National Tax Service earlier in the day. It marked the first meeting since 2018 when the two sides agreed to hold regular talks.
Trade volume between South Korea and Indonesia stood at $20 billion in 2018, up from $18 billion in 2017, according to South Korean government data.
National Tax Service Commissioner Kim Hyun-jun (L) shakes hands with his Indonesian counterpart, Robert Pakpahan, at the Seoul office of the National Tax Service on July 22, 2019, in this photo provided by the National Tax Service. (PHOTO NOT FOR SALE) (Yonhap)
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