3.3, KRW 3.26 Trillion Socioeconomic Contribution

Analysis results have been released, revealing that the tax platform Samseomsam (3.3) has created socioeconomic value totaling 3.2649 trillion KRW. Samseomsam Research Lab of Jarvis & Villains emphasized in its latest report that Samseomsam not only reduces the tax filing burden for individuals but also significantly contributes to enhancing national economic welfare and stimulating domestic demand. This is the result of quantifying direct and indirect economic benefits based on the methodology developed by Professor Yoo Byung-joon's research team at Seoul National University in 2022. According to the analysis, direct economic benefits totaled 2.4548 trillion KRW. This includes accumulated refunds of 2.0139 trillion KRW over six years since Samseomsam's launch, along with the effect of saving 395.7 billion KRW in tax agent filing fees and 45.2 billion KRW in time costs that would have been incurred if Samseomsam had not been used. Indirect economic benefits amounted to 810.1 billion KRW. Among these, the 'consumption promotion effect,' where direct economic benefits led to individual consumption and contributed to stimulating the domestic economy, was the largest at 426.9 billion KRW (applying marginal propensity to consume). The 'transfer income multiplier effect,' resulting from transfer income through refunds generating secondary and subsequent ripple effects, was analyzed to be 383.2 billion KRW. Samseomsam Research Lab also noted intangible effects in addition to these quantifiable values. By simplifying complex tax refund procedures, general taxpayers are recognizing their refund rights and increasing their understanding of the tax administration system, indicating a significant intangible contribution. Chae Yi-bae, head of Samseomsam Research Lab, stated that such tax platforms contribute not only to the increase in Gross Domestic Product (GDP) but also to enhanced tax administration efficiency and the spread of a diligent tax payment culture, and that their benefits will be further expanded through future advancements in Artificial Intelligence (AI).