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Korea - Experiences in VAT Administration
Korea - Experiences in VAT Administration
March 2005
Revenue
Types
Revenue
32.5
Customs Tax
6.6
20.1
13 other Taxes
17.8
24.9
Total
101.9
Refunded
30.5
16.2
Actual
(1)
14.3
VAT on
Imported (2)
Total
(1+2)
18.2
32.5
CreditCard
Card
Credit
Taxation
Infra
(NTS)
Datafrom
from
Data
PublicAgencies
Agencies
Public
Cash
CashReceipt
Receipt
Self
SelfAssessment
Assessment
(Billion dollar)
1997
1998
1999
2000
2001
2002
2003
37
30
41
77
131
168
165
Consumers
cash receipt
document for
income deduction
National
Tax Service
Restaurants
details
details
approval
Franchised
agencies
Observation
1. The scale of tax frauds is getting bigger
Most of all, illegal tax refund is complicated and getting bigger in Korea.
The NTS is now preparing a significant measure.