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NTS Chief Nominee Vows to Tackle Tax Evasion by Multinational Firms

Written: 2017-06-24 12:58:46Updated: 2017-06-24 15:55:58

NTS Chief Nominee Vows to Tackle Tax Evasion by Multinational Firms

President Moon Jae-in's nominee to head the National Tax Service has vowed to step up inspections into intelligent tax evasion tactics employed by multinational companies.

Han Seung-hee made the vow in a document submitted to the National Assembly on Saturday for his confirmation hearing. He was responding to questions regarding his stance on tax avoidance strategies, such as base erosion and profit shifting(BEPS), and Google tax, a term used to refer to tax avoidance prevention provisions.

The nominee said a comprehensive reporting system for international transactions by multinational firms will be implemented in December and that discussions are ongoing with related agencies to strengthen oversight and boost manpower to resolve tax disputes.

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