0163 Golf and Taxes in South Korea

Bad news for golf mad South Koreans: forget about teeing off if you tee off the National Tax Service. The NTS is cracking down on tax cheats by revoking memberships in pricey golf clubs. Do the math: if you can afford the steep club fees (two to three hundred thousand for a mid-level club, as much as one million dollars for one at the top level) then you should be able to pay the government. If you don’t pay, you can kiss your membership goodbye. In 2007, the government confiscated 1,720 memberships, sold them to the public and generated tens of millions in won, which is what the Korean monetary unit is called. You might say these tax dodgers are playing won under par. #ceas #hacker #SouthKorea