Gyeonggi Province Launches Secondary Investigation into Hidden Assets of 13,766 Major Local Tax Delinquents

[Suwon Ilbo=Park No-hun Reporter] Gyeonggi Province announced on the 15th that it has completed a first-phase comprehensive investigation into "fraudulent asset concealment" targeting 106,321 major local tax delinquents and related parties from November 23 to December 7, and has begun a tracking investigation into 13,766 secondary investigation subjects.

"Fraudulent asset concealment" refers to the illegal act of anticipating that real estate owned due to tax delinquency will be seized, and in advance falsely transferring ownership to spouses, children, or other related parties, or similar series of unlawful acts.

The secondary investigation subjects selected this time are delinquents extracted by utilizing investigation techniques accumulated to date and big data materials based on the province's tax information.

The province plans to comprehensively review the delinquents' ▲national real estate ownership status ▲signs of false asset transfers through financial inquiries of related parties and relatives ▲sources of real estate purchase (jeonse) payments and acquisition of rights, and business startup funds.

For delinquents confirmed to have engaged in tax collection evasion, the province plans to file fraudulent asset cancellation lawsuits in accordance with the "Local Tax Collection Act" and "Civil Act" provisions to recover related assets.

Furthermore, if it is determined that the crime of tax collection evasion under the "Local Tax Basic Act" is established, the province will criminally charge the delinquent and any accomplice.

Choi Won-sam, director of the Tax Justice Division at Gyeonggi Province, said, "We will take a stern stance against unconscionable tax delinquents who negatively impact the atmosphere of sincere tax payment," and added, "We will pursue and recover hidden assets to the end by mobilizing all legal procedures to realize tax justice."

Meanwhile, considering the COVID-19 situation, the province plans to conduct non-contact investigations to minimize contact with taxpayers, and in cases where on-site investigations are unavoidable, it will strictly adhere to quarantine guidelines.