The South Korean business community on Tuesday called for easing the tax audit burden and more deductions for corporate entertainment outlays to better reflect the rise in overall expenses.
In a meeting with National Tax Service Commissioner Lim Hwan-soo in Seoul, companies belonging to the Korea Chamber of Commerce and Industry (KCCI) said there is a pressing need for the government to buoy corporate investments and fine-tune the way it conducts audits to not interfere with legitimate business activities.