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Tax Chief Pledges Biz-Friendly Environment

Posted January. 03, 2008 01:05,   


The National Tax Service has begun to work on business-friendly tax policies and will conduct a comprehensive review of tax audit procedures to eliminate anti-business or unnecessary practices.

In his New Year`s speech, National Tax Commissioner Han Sang-yool pledged a thorough review of the entire process of tax audits to eliminate unnecessary procedures that could add burdens on businesses.

“We must carefully assess whether the number of audits is adequate to induce companies to report transactions without fabrication and whether the time granted for each audit is minimal enough to achieve objectives,” he said.

“The new government’s mission and what the people want is the revival of the economy. To support economic revitalization, I will establish a business-friendly tax environment.”

On President-elect Lee Myung-bak`s pledge to create three million jobs, Han said, “I will draw up a fair standard for large corporations that create jobs or strategic industries that contribute to ease unemployment in provinces and actively review delaying tax audits into them."