Loan Companies Face Tax Audit
The National Tax Service (NTS) will launch a large-scale tax audit targeting loan houses.
An official from the NTS said on June 15, The NTS is analyzing documents on lending institutions handed out by the Ministry of Government Affairs and Home Affairs, financial supervisory authorities, prosecution, police, and local governments. We will carry out a tax audit on these institutions soon.
He added that more than 100 lending institutions will be the subject of the tax audit.
The NTS is reportedly reviewing documents about some 10 lending houses that have increased in size by running TV commercials and other means, as well as unregistered lending houses that charge more than the legal interest rate ceiling of 66% a year.
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