Customs, tax agencies seize $880,000 from delinquent taxpayers
The logo of the Korea Customs Service / Yonhap
Korea's customs service said Thursday it has collected 1.3 billion won ($880,000) from delinquent taxpayers through a joint investigation with the tax agency.
Under the joint investigation conducted by the Korea Customs Service and the National Tax Service, the two agencies shared their respective databases to track the concealed assets of delinquent taxpayers.
The shared database included information on the taxpayers' asset concealment, as well as comparisons between their actual residences and the addresses registered for their personal customs clearance codes with the customs service.
Through the investigation, the agencies found one delinquent taxpayer running a business under the father's name, discovering cash and checks hidden in a travel suitcase.
In another case, a delinquent taxpayer was suspected of having staged a divorce only on paper while continuing to live in an apartment owned by the former spouse. The agencies confiscated foreign currency, premium whisky and other luxury goods from the house.
Through the investigation, the agencies collected 1 billion won in cash, along with luxury bags and other concealed assets.
"The achievement is significant as it marks the first example of cooperation between the two agencies, combining their data analysis capabilities and expertise in conducting on-site investigations," the customs service said in a release.
"It demonstrated that interagency cooperation can be effective in tackling high-value, habitual delinquent taxpayers who enjoy lavish lifestyles while claiming business hardship," it added.