Suwon Special City implements "Local Tax Audit Timing Selection System" from March

[Suwon Ilbo=Reporter Jung Jun-sung] Suwon Special City announced on the 25th that it will implement the ‘Local Tax Audit Timing Selection System’, which was introduced last year and received positive response, again from March this year.

The Local Tax Audit Timing Selection System is a program that allows corporations to submit their preferred audit timing in advance, which is then reflected in the audit schedule. It is a policy measure designed to reduce the management burden on enterprises from tax audits.

Out of 97 corporations subject to regular tax audits last year, 60 corporations applied. The system received positive evaluations as enterprises were able to preselect and coordinate audit timing, reducing their preparation burden and enabling them to predict and manage schedules, which helped in corporate business planning.

This year's target corporations subject to the timing selection system are 91 corporations, excluding those requiring emergency audits or those where schedule adjustment is difficult due to imminent statute of limitation deadlines. Based on last year's operational results, the city plans to increase the system's effectiveness to enhance audit acceptance and reduce corporate burden.

The city plans to send notices to target corporations in March to receive applications for the tax audit timing selection, and conduct sequential audits from May through December. Corporations that do not submit their preferred timing will have their audit schedules determined arbitrarily by Suwon City.

A city official stated, “We will allow corporations to select their audit timing to encourage active cooperation with audits,” and added, “We will enhance tax administration credibility through business-friendly tax audits.”