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Can electronic tax invoicing improve tax compliance? : A case study of the Republic of Korea's electronic tax invoicing for value-added tax

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  • Can electronic tax invoicing improve tax compliance?
  • Lee, Hyung Chul
  • The World Bank Group


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Title Can electronic tax invoicing improve tax compliance?
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Sub Title

A case study of the Republic of Korea's electronic tax invoicing for value-added tax

Material Type Reports
Author(English)

Lee, Hyung Chul

Publisher

Washington, DC:The World Bank Group

Date 2016-03
Series Title; No Policy Research Working Paper / 7592
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Economy < Economic Administration
Industry and Technology < IT
Holding The World Bank Group

Abstract

This paper reviews the Republic of Korea’s experience with electronic tax invoices for its value-added tax regime from the perspectives of tax policy makers and administrators. The paper evaluates Korea’s implementation of electronic tax invoicing and analyzes its effect on tax compliance through enhanced transparency of business transactions and taxpayer services. First implemented in 2011, mandatory electronic tax invoicing has been credited with lowering tax compliance costs and raising the transparency of business transactions. Effective policy design and implementation have contributed to the country’s success with electronic tax invoicing. Measured in transaction value, the electronic tax invoice adoption rate reached 99.8 percent in the first year and rose to 99.9 percent by 2013, compared with 15 percent before electronic tax invoicing became mandatory. (The rest omitted)