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Tax Service to Investigate 446 Young Adults Who Acquired High-Priced Assets

Written: 2021-09-30 15:55:21Updated: 2021-09-30 16:04:09

Tax Service to Investigate 446 Young Adults Who Acquired High-Priced Assets

Photo : KBS News

The National Tax Service launched a probe Friday into 446 people between their teens and 30s who didn't file taxes after acquiring highly valued property or stocks with funds provided by their parents. 

Among those subject to the probe, 155 people are suspected of obtaining high-priced buildings through an illegal transfer of wealth and 72 others who allegedly disguised assets they received from their parents as a loan. 

One-hundred-97 people are suspected of acquiring stocks of companies run by their parents through various underhanded means. The tax agency will also look into 22 individual broadcasters who are suspected of not filing their taxes despite having reaped significant profit. 

One case under investigation involves a two-year-old who inherited stocks from their parents. 

Through the probe, the tax agency is aiming to thoroughly verify the flow of funds as well as enhance its ability to verify the origin of funds when young adults acquire not only high-priced homes but also other buildings.

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