Gyeonggi Province to Pursue Collection of Court Deposit Funds from Delinquent Local Tax Payers

[Suwon Ilbo=Park No-hoon Reporter] Gyeonggi Province announced on the 16th that it is proceeding with procedures to collect court deposit funds from delinquent local tax payers.

To this end, the province requested data on court deposit funds from 379,963 delinquent tax payers with arrears of 300,000 won or more from the Court Administration Office last month, and has secured a list of 21,246 delinquent tax payers holding court deposit funds.
The court deposit funds of the delinquent tax payers identified this time will be subject to blanket attachment measures. Subsequently, if the funds are confirmed as retrievable assets through examination of case records, collection procedures will be initiated.
Collection of court deposit funds is an effective tax collection method for delinquent tax payers whose whereabouts are unknown or whose attachable assets cannot be located.
Key targets for collection include payment deposit funds made when a debtor cannot identify a creditor for debt exemption, or security deposit funds provided as collateral for legal proceedings. When a creditor is unknown, the debtor deposits funds with the court to be exempt from debt obligations, or provides security deposits as collateral for litigation proceedings.
Collection procedures are also conducted on execution deposit funds made by enforcement agencies for management and delivery of subject matter in forced execution or provisional disposition procedures, storage deposit funds for simple custody of subject matter, and mixed deposit funds where multiple deposits with different deposit causes are processed through a single deposit procedure.

Lee Ui-hwan, Director of the Tax Justice Division of Gyeonggi Province, stated, "When deposit funds are attached, even if the payment claim amount exceeds the delinquent tax amount, delinquent tax payers may face difficulties in recovering and withdrawing the deposit funds," and urged, "We urge voluntary payment of delinquent taxes to avoid inconvenience when recovering and withdrawing deposit funds."