South Korea’s parliament has advanced a bill imposing stricter penalties on multinational firms like Google and Netflix if they fail to submit tax audit data. The National Assembly’s Planning and Finance Committee approved an amendment to the Framework Act on National Taxes, setting noncompliance penalties at 0.3% of a company’s average daily income. If daily income is hard to determine, fines of up to KRW5m (USD3,500) per day apply, with penalties imposed repeatedly until compliance. Critics argue previous one-time fines were too lenient, enabling firms to evade accountability. Korea’s penalties remain lighter than those in countries like Germany, where tax violations can lead to jail terms. If passed in a plenary session, the law takes effect six months after promulgation.