Jan 092011
 
 January 9, 2011  Laws, Non-U.S.

A new tax law proposal in South Korea has some people concerned.  Jung Jae-yoon reports that under new guidelines, people would have to provide more details about charitable donations in order to get tax credits.   Here in the U.S., we know that we can be audited for any donation credits claimed on Schedule A, but suppose you lived in a society where you needed to be more concerned about people finding out about your religious or political views?

The Korea Taxpayers Association, a non-profit organization established in 2001, claimed that donors’ personal information is at risk of being exposed if the regulations introduced by the National Tax Service go into effect this year.

[…]

“You would never know if a NTS official decided to gain access to its computer system to retrieve this information,” he added.

“The NTS was found to have logged into 19 million personal records per month (on average). And despite the massive amount of taxpayers’ information to be managed, the NTS has only one person who has been managing log-in security for the last seven years,” Kim said.

Read more on Korea JoongAng Daily.

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