The Korea Times
National Tax Service (NTS) Commissioner Lim Kwang-hyun visited three European countries to bolster cross-border tax collection cooperation aimed at recovering overseas assets concealed by delinquent taxpayers, marking an expansion of Korea’s enforcement network from the Asia-Pacific region into Europe, the NTS said Thursday. During his tour from May 8 through May 13, Lim visited Budapest in Hungary, Brussels in Belgium and London in the United Kingdom, where he held bilateral meetings with the heads of each tax authority and signed memorandums of understanding on mutual assistance in tax collection. Lim also engaged in detailed discussions with his counterparts on ongoing efforts to trace and recover overseas assets, as well as on joint responses to offshore tax evasion cases. In one case, a foreign professional athlete who had worked in Korea moved to a European league after leaving unpaid taxes behind. Following the NTS’ request for mutual assistance in tax collection, the foreign tax authority initiated procedures to seize the taxpayer’s assets in the individual’s home countr
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