TechFlow news, July 15 — According to Yonhap News Agency, South Korea's Commissioner-designate for the National Tax Service, Im Kwang-hyung (translated name), stated during a parliamentary hearing before the National Assembly's Planning and Finance Committee that efforts to combat tax evasion through new transaction methods such as virtual assets will be strengthened. Im emphasized establishing and improving a virtual asset transaction information collection system to proactively address emerging tax avoidance schemes.
He also plans to prevent antisocial overseas tax evasion and national wealth outflows by expanding tax information exchanges with foreign countries and diversifying channels for collecting overseas financial data. In addition, Im said artificial intelligence technology will be used to upgrade tax evasion detection systems, enabling automatic identification of suspicious tax evasion indicators through analysis of financial statements and other fundamental data, while taking firm measures against stock price manipulation, alternative capital transactions by controlling shareholders, and illegal self-dealing activities.
