 |
The National Tax Service building is seen in this file photo. (Photo: National Tax Service) |
[Alpha Biz= Paul Lee] SEOUL, June 16 (Yonhap News TV) — South Korea's budget for tax evasion whistleblower rewards has already been exhausted this year, even as authorities review a proposal to remove the current reward cap, according to an exclusive report by Yonhap News TV.
The 15.53 billion won ($11.3 million) budget allocated for tax evasion informant rewards in 2025 was fully depleted in May, data from the National Tax Service showed.
Under the program, individuals who report tax evasion by individuals or corporations can receive rewards equivalent to 5% to 20% of the recovered tax amount, subject to a maximum payout of 4 billion won.
The program has attracted growing public attention following the tax authority’s intensified campaign against real estate-related tax evasion. As a result, the number of reports and reward payments has risen sharply.
Last year, the number of reward payouts increased 66% from a year earlier to 516 cases, while total payouts reached a record 20.87 billion won.
Amid criticism that the current cap limits incentives for major whistleblowers, authorities are reportedly considering abolishing the ceiling altogether. However, with this year’s budget already exhausted, uncertainty remains over whether additional rewards can be paid within the year.
The National Tax Service said it is consulting with relevant government agencies to secure additional funding and minimize disruptions to reward payments.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
