NTS levies 743.8bn won on wealthy people for evading taxes in H1

South Korea's tax agency said Monday that it has levied more than 740 billion won (US$688.1 million) on large companies and wealthy people for evading taxes during the first half of this year. According to data provided by the National Tax Service (NTS), the agency conducted an investigation into 377 tax evasion cases and levied a total of 743.8 billion won during the January-June period. From 2008-2012, the NTS already completed its probe into 3,231 wealthy people, including owners of large businesses and their families, and levied 4.23 trillion won on those found to have avoided tax payment. With the latest figure, the total amount of taxes that the NTS has imposed in connection with tax evasion has increased to 4.97 trillion won up until the end of June.