[News Today] DUMBFOUNDING TAX EVASION METHODS

[LEAD]
The National Tax Service has unveiled actions taken against high-income tax defaulters who concealed assets luxuriously. They used every possible method to evade taxes, hiding things in some of the most unconventional ways.

[REPORT]
A plastic wrapping in a kimchi container is opened to reveal bundles of fifty-thousand-won bills.

The money in the container amounted to 200 million won, nearly 143,000 U.S. dollars. Piles of cash were also found in a dresser drawer.

The National Tax Service employees stormed the home of a transfer income tax defaulter who transferred the money gained from a land sale to a bank account in his child's name without paying taxes.

The tax agency collected 1.1 billion won, about 785,000 dollars, from four different locations, all under the child's name.

"We'll force open the door in the presence of police officer."

A tax evader angrily protests when police officers and NTS collectors step inside.

"Out of my way! (Calm down.) Did I say I would pay the taxes or not?"

Her protest was so fierce that police officers had to take away the knife she was wielding. The NTS secured roughly 600 million won or about 428,500 dollars in numerous luxury bags and artworks.

The NTS tracked down 696 deliberate tax defaulters who haven't paid taxes even though they had assets.

They hid their assets by storing cash in a safe or buying gold bars and artworks, but some avoided paying taxes in more inventive ways.

Some tax evaders subscribed to a high-priced overseas life insurance in the name of a spouse or invested in virtual assets under a family member's name.

The NTS is using a virtual asset tracking program to uncover such cases.

Ahn Deok-su/ National Tax Service
When we use a virtual asset tracking program, we can trace asset transfers from accounts A to B.

The NTS has collected or secured 2.5 trillion won in delinquent taxes this year.

Although this is a record high amount, more than 100 trillion won, nearly 71.4 billion dollars, still remain uncollected.