General Services

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Overview

  • “Inspection” is evaluation on the duty amounts declared and paid by a taxpayer in accordance with Customs codes.
  • Recent trend is that Customs Services of Korea has been strongly promoting for elimination of underground economy. Since Park Geun-hye administration’s most important performance evaluation in elimination of underground economy is performed with revenue amount, Customs Services of Korea has been investing on inspection to follow this goal.

Classification according to evaluation period

  • Pre-tax assessment: Tax assessment before completion of import declaration
  • Post- tax assessment: Tax assessment after completion of import declaration
  • While it is supposed to assess taxes for imported goods after accepting an import declaration, goods are subject to pre-tax assessment if it is not suitable to assess taxes after accepting an import declaration pursuant to the regulations on the Customs Law.
  • Tax assessment on importing goods is required to be performed after import declaration is completed but according to the Customs codes, goods are subjected to pre-tax assessment if they are not suited for post-tax assessment

Subjects of assessment and Classification

Assessment for import declaration by case: Pre-tax assessment, revised assessment, etc.

Corporate-specific assessment

  • Comprehensive assessment
    It is an assessment targeting companies superior in comprehensive certification to see if they maintain and improve the official standard pursuant to Article 4 (including the level of compliance with the relevant laws and whether it is legitimate to be cleared in the case of import and export companies).
  • Corporate Review
    It is a regular assessment targeting corporations selected by the director of the Korea Customs Service to see if they accurately reported tax amounts.
  • Planned assessment
    It is an assessment targeting corporations (groups) suspicious of evading taxes or subject of social issues by analyzing information.

· In the case of evaluation, Sejung focuses on minimizing risks of additional duty collection and prepares countermeasures to support companies to successfully comply with authorities prior toevaluations.