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NTS holds digital tax forum with Latin American countries

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National Tax Service (NTS) Commissioner Kim Chang-ki, third from left, poses with high-level tax officials from Latin American countries at the 2nd Korea-Latin America Digital Tax Administration Forum held in Seoul, Monday. From left are Suriname's tax chief Ismael Kalaykhan, IDB Fiscal Management Division Chief Emilio Pineda, Kim, Guatemala Superintendent of Tax Administration Marco Livio Diaz Reyes and Panama Director of Revenue Publio de Gracia. Courtesy of NTS
National Tax Service (NTS) Commissioner Kim Chang-ki, third from left, poses with high-level tax officials from Latin American countries at the 2nd Korea-Latin America Digital Tax Administration Forum held in Seoul, Monday. From left are Suriname's tax chief Ismael Kalaykhan, IDB Fiscal Management Division Chief Emilio Pineda, Kim, Guatemala Superintendent of Tax Administration Marco Livio Diaz Reyes and Panama Director of Revenue Publio de Gracia. Courtesy of NTS

By Yoon Ja-young

The National Tax Service (NTS) is holding the 2nd Korea-Latin America Digital Tax Administration Forum jointly with the Inter-American Development Bank (IDB) from Nov. 7 to 10, joined by some 50 participants including five commissioners and high-level tax officials from 15 Latin American countries.

The forum was prepared to share Korea's experience in the digital transformation of its tax administration, contributing to the enhancement of Latin American countries' tax administration capabilities and establishing close cooperation. The tax agency held the first forum in Seoul in 2019 after signing an MOU for cooperation with the IDB, which is aimed at promoting social and economic development in Latin American nations as well as supporting regional economic integration.

The forum was joined this year by officials from tax administrations of each country as well as about 20 experts from the Inter-American Center of Tax Administrations (CIAT), WU Global Tax Policy Center and domestic and international IT service firms, with diverse topics such as tax administration in the post-pandemic era, Hometax and e-tax invoice, new digital technology in tax administration and taxpayer protection and security management.

In his opening remarks, NTS Commissioner Kim Chang-ki noted that the digitization of tax administration has emerged as a key topic for many tax authorities around the world amid the COVID-19 pandemic.

He explained Korea's 25 years of experience and achievements in digital tax administration accumulated since the launch of the Tax Integrated System in 1997, including the significant improvement of tax services and transparency of national tax administration.

He also emphasized that the accelerated transition to a non-face-to-face economy and digital transformation during the pandemic further increased the importance of digital tax capabilities. He added that the advanced digital tax administration helped the NTS overcome the COVID-19 crisis and secure tax revenues stably, highlighting that the NTS can be an important partner for Latin American nations in the advancement of digital tax administration and asking for close cooperation in various fields beyond digital tax administration.

The commissioner also suggested strengthening their cooperative relationships further and working together to resolve tax-related issues such as international double taxation faced by Korean firms operating in the region, on the occasion of the 60th anniversary of the establishment of diplomatic ties between Korea and 15 Latin American countries. As Korea is accelerating its bid to host World Expo 2030 in Busan, he asked for active support from Latin American countries, traditional allies of Korea, for Busan's bid.


Yoon Ja-young yjy@koreatimes.co.kr


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