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Digital capability guarantees stable tax revenue: NTS chief

South Korea’s National Tax Service Commissioner Kim Chang-ki (center) poses with high-ranking officials from tax administrative agencies in South and Central Americas during a digital tax administration forum, held in Seoul on Monday. (National Tax Service)
South Korea’s National Tax Service Commissioner Kim Chang-ki (center) poses with high-ranking officials from tax administrative agencies in South and Central Americas during a digital tax administration forum, held in Seoul on Monday. (National Tax Service)
SEJONG -- The chief of Korea’s tax administrative agency said Monday that the transition to a non-face-to-face economy during the COVID-19 pandemic further increased the importance of digital-based tax administration.

National Tax Service Commissioner Kim Chang-ki stressed the digitization of tax administration during the second South Korea-South and Central Americas Digital Tax Administration Forum, which kicked off on the day and is scheduled to run through Thursday at a hotel in Seoul.

In his opening remarks, Kim said “the advanced digital tax administration helped the NTS overcome the pandemic crisis and stably secure tax revenues,” adding the NTS can be an important partner for South and Central Americas in the advancement of digital tax administration.

“Korea’s 25-year experience in digital tax administration accumulated since the launch of the Tax Integrated System in 1997 and its achievements, including the significant improvement in tax services and transparency in national tax administration,” he said.

He also suggested that the NTS and the Latin American tax agencies further enhance their cooperative relationships on issues, including international double taxation faced by Korean firms operating in South and Central Americas.

The NTS said in-depth discussions would be held on diverse topics in the coming sessions during the forum, which include challenges and opportunities of tax administration in the post-pandemic era; Hometax and e-tax invoice; the new digital technology in tax administration; and taxpayer protection and security management.

The forum is being hosted jointly with the Inter-American Development Bank. Among the participants were five commissioners from Colombia, Ecuador, Guatemala, Panama and Suriname and 15 high-level tax officials from the continent.

NTS Commissioner Kim also explained Korea’s capabilities and efforts to host the World Expo 2030 in Busan, asking for active support from the countries in the continent.

The NTS hosted the 1st Digital Tax Administration Forum in Seoul in 2019.

By Kim Yon-se (kys@heraldcorp.com)

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