By UN Journal Lee Kap-soo

The National Tax Service (NTS) held the 13th Meeting of Korean and Mongolian Tax Commissioners in Seoul on April 16.
 

During the meeting, the two tax administrations agreed on the importance of actively sharing taxation experiences between the two countries for the development of tax administration, and discussed the status of VAT operations, which is a major concern for the Mongolian tax administration.

The Korean National Tax Service shared with the Mongolian Tax Administration (NTA) the various systems it has introduced to expand the VAT tax base, including electronic tax invoices, credit cards, and cash receipts, as well as its operational experience.

NTS Commissioner Kim Chang-ki expressed his appreciation for the Mongolian NTA's efforts to organize tax meetings for Korean companies and to resolve tax uncertainties for Korean companies.

In addition, during the visit of Mongolian tax officials in May this year, Kim said he will provide training on major issues of the Mongolian tax administration and actively support the Mongolian tax administration in strengthening its tax collection capabilities.

In addition, he called for the Mongolian NTA's interest and active participation in the 53rd Asia-Pacific Conference of Tax Commissioners scheduled to be held in Korea in October.

The NTA said that it will continue to actively share its experience in tax administration with the international community through active tax diplomacy and support Korean companies' exports and overseas investments from a tax perspective.