Famous Actor’s Tax Payment Reduced From 7 Billion to 3 Billion Won After Dispute
Actor Yoo Yeon Seok, who was notified by the National Tax Service of a tax reassessment of approximately 7 billion won [$4,793,322], has paid around 3 billion won [$2,054,281] in taxes after having the issue of double taxation recognized.
Yoo Yeon Seok’s agency King Kong by Starship told SPOTV News on the 10th of April, “This taxation was not for the purpose of tax evasion or concealment, but stemmed from differences in interpretation and application of tax laws. As a result of actively explaining through proper procedures, double taxation was acknowledged through the preliminary tax review, and the imposed tax amount was recalculated.”
According to the agency, Yoo Yeon Seok paid the entire tax amount of around 3 billion won, excluding previously paid corporate tax and value-added tax.
The National Tax Service recently conducted an investigation into Yoo Yeon Seok and imposed a tax of about 7 billion won, including income tax. In response, Yoo Yeon Seok filed for a preliminary tax review in January and had the double taxation recognized, after which he fully paid the tax of around 3 billion won.
Despite the full payment of the tax, Yoo Yeon Seok’s side is also preparing for a tax tribunal and legal procedures due to differences in interpretation between corporate tax and personal income tax.
The agency stated, “Since 2015, Yoo Yeon Seok has developed and produced YouTube content as an extension of his entertainment activities, and based on that, he established a corporation for additional business and food service activities. The issue arose because this was seen as subject to personal income tax rather than corporate tax, leading to the imposition of comprehensive income tax. Regarding the disputes over interpretation and application of the law, we are preparing for a tax tribunal and legal procedures.”
They added, “Yoo Yeon Seok has always prioritized faithfully fulfilling his tax obligations, and going forward, as a member of the public, he will strictly comply with related laws and procedures and fulfill his responsibilities.”
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