NTS Began to Control on Mobile Real Estate Agencies and Fund Sources

National Tax Service (NTS) began intensive control on the mobile real estate agencies and fund sources, which move to newly, launched apartments tempting speculations.

NTS on the 25th announced `taxation measure against mobile real estate agencies` which contains special probe team consisting of 277 persons of 135 squads in Seoul Regional Tax Office and Jungbu Regional Tax Office.

▽ NTS measures = Special Probe Team collects personal information of the mobile real estate agencies at contracting spots for apartments and officetels, and disclose illegalities like ▽massive purchase of band accounts for apartment contract, ▽manipulation of the price of lottery for apartment, ▽ promotion of fake contract and ▽ unlicensed agencies.

NTS plans to put the personal information of fund sources and persons who collects contracting accounts along with mobile real estate agencies into national tax merging system, and investigate whether they missed taxes including other taxation information.

And NTS decided to investigate abnormal traders through mobile real estate agencies about the source of funds after examining the list of applicants, winners, contractors and those who resell the apartment and the details of paying the price.

As a first step, NTS began on the 22nd to examine the income and fortune of 432 persons who applied to join the local housing union of Gingko Village in Junggyebon-dong, Nowon-gu, Seoul.

Kim Bo-Hyun chief of property tax division in NTS said, ¡°we will inform the illegalities to the judiciary authority or related departments in addition that we collect the taxes, which the agencies and the people concerned omitted.¡°

▽ Response of Real Estate Circles = Though NTS’ this measure against real estate speculation is the third one in this year, rising price of real estate doesn’t seem to be calmed. The price of apartments in Gangnam area in Seoul turned to rise from this month after short time settlement due to the announcement of tax probe.

Dominant outlook is that the taxation measure against mobile real estate agencies, announced on the 25th, also is not so much efficient for stabilizing the price of house.

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