Wu Tzu-chia files criminal complaint over Zhudong land deal

Wu Tzu-chia, chairman of Formosa Electronic News, filed a criminal complaint at the Taipei District Prosecutors Office against five individuals regarding a land development and transaction case in Zhudong, Hsinchu County. The accused include Yingde Group Chairman Yeh Li-cheng, former Hsinchu County Magistrate Cheng Yung-chin, his son Cheng Chao-han, and Zhubei Mayor Cheng Chao-fang.

The core of the complaint concerns the nature of a NT$180 million payment. Wu alleges that this sum may actually represent a 44% share of land development profits agreed upon in a 2015 agreement, rather than a standard agricultural land sale price. He argues that if these development profits were disguised as land sale payments to circumvent taxation, it would violate the Tax Collection Act.

Wu highlighted significant discrepancies in land transaction prices, noting that while some similar agricultural lands were sold for approximately NT$1,884 per ping, other transactions in the same area reached NT$89,000 per ping—a difference of over 40 times. Based on surrounding land values, Wu estimates the potential tax evasion could amount to approximately NT$115.25 million.