- Nowon District received a refund of 1.76 billion won from the National Tax Service for value-added tax related to building construction.
- The refund case was recognized as an excellent example of increasing tax revenue last year and received an award from the Minister of the Interior and Safety.
- The district conducted a thorough investigation of refundable value-added tax items related to taxable business construction and facility investment costs.
- Despite complex legal interpretations, the district’s tax officials successfully secured the refund through proactive measures without external help.
- The district also reclaimed over 400 million won in administrative costs related to public projects, earning an award and securing additional local grants.
- Efforts are being made to protect residents’ property rights by informing housing associations about value-added tax refunds.
- The district mayor emphasized the importance of transparent and efficient financial management for the proper use of taxpayers’ money.
Source: jeonmae.co.kr
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
