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SEOUL, December 4 (AJP) - The National Tax Service plans to intensify its probe of real estate transferred from wealthy parents to children to evade inheritance and other taxes, the watchdog said in a meeting at the government complex in Seoul on Thursday.
The probe is expected to target some 2,077 apartment owners in Seoul's affluent districts of Gangnam, Gangdong, Seocho and Songpa as well as Mapo and Seongdong districts north of the Han River, where prices have soared in recent years.
The NTS will investigate them for any illegal activities or suspicious transactions.
"We are committed to eradicating illegal inheritance and gifts to protect those who want to buy their own affordable home," said Kim Yong-su, an NTS official.
* This article, published by Economic Daily, was translated by AI and edited by AJP.
The probe is expected to target some 2,077 apartment owners in Seoul's affluent districts of Gangnam, Gangdong, Seocho and Songpa as well as Mapo and Seongdong districts north of the Han River, where prices have soared in recent years.
The NTS will investigate them for any illegal activities or suspicious transactions.
"We are committed to eradicating illegal inheritance and gifts to protect those who want to buy their own affordable home," said Kim Yong-su, an NTS official.
* This article, published by Economic Daily, was translated by AI and edited by AJP.
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