National Tax Service to Intensify Scrutiny on Private Use of Luxury Corporate Vehicles

The National Tax Service will conduct intensive tax investigations into the private use of expensive automobiles registered under corporate names.

Last year, 39,429 new vehicles priced over 100 million won were registered under corporate names. It was revealed that some of these vehicles were used for personal purposes by company representatives or employees, with taxes not being paid properly.

In response, the National Tax Service views such actions as clear tax evasion and plans to meticulously examine everything from acquisition and operation to expense processing. Lim Kwang-hyun, Commissioner of the National Tax Service, stated that tax investigations will be conducted strictly if evidence of private misappropriation by owner families is confirmed.