Updated Oct.30,2008 12:15 KST

Tax Audit for SMEs Postponed
The National Tax Service will postpone regular tax audits for companies with annual sales of less than W500 billion given the difficulties they suffer as a result of the global financial crisis. NTS commissioner Han Sang-ryul in a meeting at the Korea Federation of Small and Medium Business on Wednesday said the tax audit will be postponed until the financial market stabilizes.

¡°For business with annual sales over W500 billion, the NTS will decide on whether to postpone or carry out the tax audit as planned according to each company¡¯s circumstances,¡± he said.

(englishnews@chosun.com )