Yoo Yeon Seok has been notified by the National Tax Service of an additional 7 billion KRW in taxes, including income tax. Yoo has filed an objection and requested a “pre-assessment review” to dispute the tax notice. He intends to clarify the issues and adjust the amount.
According to CBS on March 14th, the NTS recently completed a thorough investigation into Yoo’s taxes, imposing about 7 billion KRW, including income tax. Yoo, like actress Lee Ha Nee, established his own agency, Forever Entertainment, and the NTS launched the investigation due to potential tax issues related to the company.
However, Yoo disagreed with the tax assessment and filed for a pre-assessment review in January. This procedure allows a review of the tax decision, with external and internal committee members participating in the evaluation. Yoo’s team said they would actively clarify the situation during the review process to adjust the tax amount.
They expect the total to be significantly reduced, from the initial 7 billion KRW to around 3 billion KRW. Yoo’s representatives stated, “The pre-assessment review process is underway, and we are clarifying the legal interpretation of the tax laws.
This issue has not yet been finalized.” They added, “Yoo Yeon Seok has always fulfilled his tax obligations and will continue to do so as a responsible citizen.”This tax controversy comes amid ongoing tax evasion issues in the entertainment industry.
Lee Ha Nee is also reported to have been notified of an additional 6 billion KRW in taxes, with her side explaining that the issue stems from differing legal interpretations about whether an artist’s income should be taxed under corporate tax or income tax. The police are currently investigating a public petition about Lee Ha Nee’s alleged tax evasion.
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