[Anchor]
The National Tax Service (NTS) has investigated 104 individuals suspected of tax evasion during real estate transactions, imposing 31.8 billion won in back taxes so far. Six of these individuals have already been referred to the prosecution.
Reporter Sim Useop has the story.
[Reporter]
Individual A, who owned two apartments, sold a low-priced apartment they were living in to an acquaintance of their mother before selling a high-priced apartment.
A then sold the high-priced apartment for approximately 2 billion won and reported it as a single-home household to receive a capital gains tax exemption.
However, an NTS investigation revealed that A continued to live in the low-priced apartment even after transferring the title and even paid the acquisition and property taxes on behalf of the person whose name was on the title.
It was a sham transaction, and A even paid hundreds of thousands of won in monthly fees until the title was returned later.
The NTS imposed 1 billion won in capital gains tax on A and referred A, A's mother who orchestrated the transaction, and the acquaintance who lent their name to the prosecution.
Another multi-home owner, B, transferred a multi-family housing building to their younger sibling before selling a high-priced apartment, claiming a capital gains tax exemption for the apartment.
However, there was no record of any payment between B and the sibling, and B continued to collect monthly rent from the multi-family building, ultimately resulting in 400 million won in capital gains tax and additional fines.
Since October of last year, the NTS has investigated 104 such individuals suspected of real estate tax evasion and has imposed 31.8 billion won in back taxes to date.
Among them, six have been referred to the prosecution.
[Oh Sang-hoon / Director General of Property Taxation Bureau, National Tax Service: We have uncovered numerous cases where individuals unfairly applied for capital gains tax exemptions for single-home households through sham transactions to evade taxes. We will continue to closely monitor illicit transactions between family members aimed at tax evasion.]
As the imposition of heavy capital gains taxes on multi-home owners has resumed, the NTS expects an increase in illicit transactions and gifts, and plans to further strengthen its scrutiny of tax evasion by multi-home owners.
Reported by Lee Jae-young | Video by Kim Jong-tae | Graphics by Choi Jae-young
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