Tax audit to target 362 suspected property speculators 상세내용
Subject
Tax audit to target 362 suspected property speculators
date
2005-12-06 00:00:00
일반게시판
내용
The National Tax Service (NTS) said on Monday (Dec. 5) that it launched a comprehensive tax audit of 362 people suspected of having evaded taxes on capital gains from home and land transactions.
Weve decided to launch a 40-day tax audit targeting those who acquired land and apartments in southern Gangnam-gu and other regions designated as development zones, the NTS said in a statement.
Seventy individuals suspected of evading tax in the course of purchasing multiple apartment units which will be reconstructed into new apartments in the well-to-do Gangnam-gu, Seoul will be subject to the tax audit, it said.
The NTS said it would scrutinize the purchase records of the 70 individuals in particular.
It will also target 75 individuals who made speculative investments in land in new towns that will house government ministries and agencies and a town in Gyeongju, North Gyeongsang Province, where Koreas radioactive waste repository would be built.
A hundred wealthy individuals that own three or more houses are also subject to the tax probe.
The NTS will review all real estate transaction records of the individuals suspected of dodging taxes since January 2000 as well as trace the source of the funds used to buy the real estate. In line, it would investigate whether the individuals have mobilized corporate funds to buy private real estates.
The tax authority said it would lodge complaints against the suspects with the prosecution, if they are found to have evaded taxes by forging dual contracts _ one genuine and one bogus _ to manipulate the real purchase price reported to the government or appropriated corporate funds to expand private assets.
The NTS is under suspicion that it is carrying out an increasing number of tax probes into both corporations and individuals upon a demand by the Ministry of Finance and Economy, which desperately seeks to offset the tax revenue loss expected from implementing the widened tax incentives aimed at easing the economic distress of Korean citizens from rising prices.
