Gyeonggi-do Conducts Intensive Investigation into Concealment of Inherited Property by High-Amount Tax Delinquents

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will conduct an intensive investigation into the concealment of inherited property.

On the 2nd, the province announced that it will carry out a full investigation into the concealment of inherited property targeting 2,300 taxpayers who owe more than 10 million KRW in local taxes (total arrears of 124.186 billion KRW).

In this full investigation, the province will focus on cases where real estate inheritance is transferred to other co-heirs through negotiated division. Negotiated division inheritance is often used to evade or avoid tax collection despite having inherited property.

During the investigation, the province will determine whether the taxpayer has concealed, evaded, or made false contracts with the intent to avoid tax collection. For taxpayers who avoid inheritance registration due to arrears, the province will notify the relevant city or county to proceed with substitute registration, fraudulent conveyance cancellation lawsuits under creditor's cancellation rights, and public auctions simultaneously.

Additionally, for high-amount taxpayers who evade tax collection, criminal charges will be filed, and fraudulent conveyance cancellation lawsuits will be pursued to restore the taxpayer's concealed property and collect the outstanding taxes.

Lee Ui-hwan, Director of the Tax Justice Division of the province, stated, "We will strictly respond by filing criminal charges against taxpayers who intentionally conceal property and those who cooperate with them under the Local Tax Basic Act. For high-amount taxpayers who undermine tax justice, we will strictly enforce tax administration according to laws and principles to establish a fair tax order and create a society where taxpayers who faithfully pay taxes are respected."

This content was produced with the assistance of AI translation services.