The National Tax Service has decided to exclude artificial intelligence (AI) Start - Up from those surveyed for regular tax audits to support their growth.
National Tax Service Commissioner Lim Gwang-hyeon said at a meeting with the Korea Artificial Intelligence and Software Industry Association on the 24th, "As AI technology emerges as the core of national competitiveness and becomes a strategic field that determines technological hegemony, our AI small and midsize enterprises are in a relative disadvantage in terms of funding, workforce, and infrastructure," adding, "To support the leap to the 'three leading AI nations' and the 'growth of AI small and midsize enterprises,' we will actively provide tax administration support that corporations can feel, going beyond simple taxpayer convenience, such as exclusion or deferral from regular tax audits."
The National Tax Service will implement the "AI small and midsize enterprise tax administration support plan" starting on the 27th. As those surveyed for tax administration support, it selected a total of about 4,800 corporations, including AI Start - Up, in cooperation with the Ministry of SMEs and Startups and related associations.
For these corporations, the National Tax Service will provide ▲ minimal tax verification ▲ research and development (R&D) support ▲ liquidity support ▲ consultations on tax issues. The aim is to reduce the tax burden so they can focus on AI development and corporate management.
Specifically, by dividing by growth stage, AI Start - Up small and midsize enterprises that have been in business within five years of founding will be excluded from those surveyed for regular tax audits. AI small and midsize enterprises founded five years or more will be granted a deferral of the start of regular tax audits. In addition, if there is no clear suspicion of tax evasion, they will also be excluded from those surveyed for return content verification, minimizing tax verification.
In addition, it will support the liquidity of corporate funds through measures such as extending payment deadlines, exempting tax payment collateral, deferring seizures and sales, prioritizing processing of correction claims, and early payment of refunds. The National Tax Service will also set up AI corporation-only consultation counters at tax offices nationwide to provide guidance on tax benefits.
Korea Artificial Intelligence and Software Industry Association President Jo Jun-hee said, "The National Tax Service's tax administration support will be a strong backing to drive the virtuous cycle that leads to entrepreneurship, employment, and economic growth."