If You Bought a House After Receiving a Gift, You Are at Risk... The National Tax Service Is Watching Everything: 'Unprecedented Tax Audit' / Gift Tax Tricks Lead to a Tax Bomb | Tax Accountant Lee Jang-won

Summary

Tax accountant Lee Jang-won explains why Korean gift and real estate transaction tax audits are becoming much tougher. He covers audits of living expenses, family loans, appraisals, corporate transfers, and stock gifts, warning that tax shortcuts often lead to far larger penalties later. He also says high-priced Seoul apartments have become illiquid under new rules and argues that stocks are preferable to real estate in the current environment.

• Gift and real estate transaction audits are intensifying in Korea.
• Tax authorities are examining living expenses, loans, appraisals, and corporate transactions.
• High-priced Seoul apartment transactions have dried up after loan and permit restrictions.
• Stock gifts may become the next audit focus if real estate transactions stay low.
• Tax shortcuts can create much larger penalties years later.
• Lee Jang-won sees stocks as preferable to real estate under the current tax and regulatory environment.