Expatriates resident in South Korea will from May of next year become able to pay their income tax online, a National Tax Service official indicated on Monday.
"We plan to introduce the Internet-based tax payment system for foreigners in 2005," announced Kim Yeong-kun, according to the Korean Herald. "The plan is part of our efforts to develop Korea into a Northeast Asia business hub."
The NTS is lauching an online payment system for domiciled Koreans in May 2004 before rolling out the system aimed at foreign nationals in 2005.
NTS Commissioner Lee Yong-sup observed that the new initiative is in line with the nation’s efforts to make the tax and investment environment more attractive to foreign business, and follows a spate of recent announcements in this regard.
"To attract more foreign talent and investment to Korea, it is vital that we provide global-standard service to foreign investors and businessmen," observed Lee.
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