South Korea Tax Agency Adds Crypto Tracking Programs, Upgrades AI Forensics in Evasion Crackdown

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South Korea’s National Tax Service will strengthen its response to tax evasion involving virtual assets, or digital assets, including by adding more transaction-tracking programs.

In an Aug. 12 tax administration plan centered on overhauling delinquent-tax management and rooting out antisocial tax evasion and nonpayment, the agency said it will introduce additional digital-asset transaction-tracking programs and upgrade its artificial intelligence-based forensic system. The aim is to expand infrastructure for tracing cases in which virtual-asset transactions are used for tax evasion or asset concealment.