A Korean entertainment company avoided payment of $6 million in taxes

This company was said to evade about $6 million in taxes and was ordered to pay back more than $7 million.

The National Tax Service has launched a tax probe into 93 suspected offshore tax evaders. Among them, there even existed celebrities from famous agencies.

The National Tax Service (NTS) held a briefing at the Government Complex Sejong on the 12th and announced that they have launched a joint investigation. Because some entertainment agencies are also included, it is expected that there will be repercussions.

There is a local entertainment agency that hid about $6 million earned by Korean pop singers through the Hong Kong paper company without remitting them to Korea. According to the National Tax Service, the entertainment agency was fined $7.9 million for tax evasion.

According to the survey, the tax evasion method that has been revealed recently is becoming more and more sophisticated by using stocks, derivatives or making artificial losses, rather than simply using a paper company in tax havens.

Source: nate

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