National Tax Service has launched a tax audit on multinational corporations who have earned a lot of income in Korea but have not paid taxes properly and domestic property owners who have been taxed offshore. It is said that domestic corporations such as Netflix and Yogiyo are included.
This is Jeong Seong-jin.
National Tax Service recently reported a tax audit to the Korean subsidiary of Netflix, an online video service.
When a Korean subsidiary pays royalties, i.e., usage fees, to the US headquarters, a certain portion of the taxes must be paid domestically.
As the number of users more than doubled from last year due to non-face-to-face, so-called untact demand due to Corona 19, the industry estimates that the evasion tax will be significant.
Delivery Hero Korea, which has domestic delivery app corporations such as Yogiyo, who also enjoyed a boom in delivery, is also known to be undergoing a tax audit for reducing domestic income.
Domestic subsidiaries, a multinational corporation that sells famous overseas luxury brands, are accused of setting excessively high prices for products imported from overseas headquarters in order to reduce taxes in Korea while raising prices several times.
A trader in an overseas apparel brokerage trade has deducted billions of won by remittance several times to relatives such as domestic parents using the Paper Company.
It was found that with this money, they owned several high-end apartments and supercars and paid less than 300,000 won in income tax.
[Im Kwang-Hyun/Director of Investigation Bureau of the National Tax Service: We will impose a maximum of 60% additional tax on deliberate tax evasion and take strict measures, such as filing a complaint with the prosecution.] The
National Tax Service is the only person subject to tax evasion outside the country through exchange of financial information between countries . Rather, it plans to thoroughly verify family and corporations.
(Video coverage: Yoo-hyuk and Kim Min-cheol, video editing: Kim Jong-tae)
Even enjoying Corona special... Netflix · Yogiyo Tax Investigation
The IRS has launched a tax audit on multinational corporations who have earned a lot of income in the country but have not paid the tax properly, and domestic property owners who have been taxed offshore. It is said that domestic corporations such as Netflix and Yogiyo are included.