"Supercar, luxury house" with tax siphoned off...Tax audits of 37 companies' owners' families

2024.11.27. PM 2:30
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Tax authorities have pulled out knives to target companies and owner families who bought high-priced sports cars and luxury houses in the name of the corporation or evaded gift taxes by "driving all the work" to their children.

The IRS said it has launched a tax investigation into 37 local companies and their owners' families, who are accused of avoiding fair taxes while monopolizing corporate profits due to private-interest-seeking management and moral hazard.

There are 14 companies that privately used company money to buy high-priced real estate and art, 16 companies to give work, and 7 companies that made unfair profits from undisclosed company information.

There have also been cases of stealing the settlement money of platform workers, building a private villa with company money, and disguising it as a training center.

The National Tax Service said it plans to thoroughly verify the private interests of the owner family that undermined the economic stability of people's livelihoods and undermined the value of fairness, and if it is found to have evaded taxes, it will switch to a criminal investigation under the Tax Offender Penalty Act without exception and file a complaint with the prosecution.



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