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Famous Celebrity Runs an Agency Under His Family Name and Evades a Huge Amount of Taxes

Credit: Hankyung

A celebrity was fined billions of won for tax evasion.

On November 4, South Korea’s National Tax Service launched a tax investigation against 38 people suspected of evading taxes, including the celebrity A.

According to their reports, A established an agency in the name of his family and, of course, signed an exclusive contract with the agency. He used the difference between the corporate tax rate and the income tax rate for high-income earners to reduce his income and increase his agency’s earnings to pay less taxes.

In addition, A used the high-priced company car as his own and personally used the company card and wrote off his own spendings as business expenses, reducing corporate taxes. He also paid personnel expenses to relatives who never worked at the company.

In response, the National Tax Service charged an additional billions of won in corporate tax and general income tax to A and his agency.

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