Lim Kwang-hyun Vows Strict Action on Virtual Asset Tax Evasion

14 July, 2025, 02:29 AM

Lim Kwang-hyun, nominee for Commissioner of the National Tax Service, has pledged a firm stance against tax evasion utilizing private funds and virtual assets. In written responses submitted to the National Assembly ahead of his confirmation hearing, Lim highlighted the focus on offshore tax evasion involving virtual assets. He stated, "We will actively gather and analyze information regarding suspected offshore tax evasion and conduct rigorous tax investigations upon confirmation of evasion." Specifically, Lim outlined plans to "broadly secure virtual asset transaction data to meticulously monitor and analyze transactions suspected of offshore tax evasion." This proactive approach aims to close loopholes and ensure fair tax practices in the evolving digital landscape. The National Tax Service intends to leverage technology and data analysis to identify and address sophisticated evasion schemes, protecting tax revenues. ```