Special tax investigation launched against 37 people, including platform and franchise operators, on suspicion of tax evasion.
1. Company A:
which operates the platform, frequently delayed payments to platform workers, built a training center with company money on land in the owner’s personal name, paid excessive land rent to the owner, and actually used the training center as a private villa for the owner’s family. The family that owns this company bought and drove several expensive supercars in the name of the corporation, and were caught paying personal expenses worth hundreds of millions of won, such as dermatology management fees and veterinary hospital treatment fees, using the corporate card.
2. Company B:
a manufacturing and exporter, provided ‘toll tax profits’ worth billions of won to the children of the owner by inserting a paper company into the sales transactions generated from transactions with overseas customers. The company also covered hundreds of millions of won in maintenance costs for the yacht that the owner used for personal purposes. It was revealed that the owner of this company did not report gift tax while renting an expensive apartment worth 4 billion won to his children for free or paying billions of won worth of overseas travel expenses to over 40 countries with his own card.
National Tax Service reports:
The National Tax Service reports that business owners with close interests in the common people and small business owners, such as delivery platforms, misappropriate company money amounting to hundreds of billions of won to spend on extravagances such as luxury homes and supercars, and increase their children’s wealth by driving them work from valuable businesses, while disclosing undisclosed corporate information. It was announced on the 27th that a special tax investigation had been launched on 37 suspected tax evaders who were found to have made unfair market profits. The National Tax Service said, “(This tax investigation) included many cases of tax evasion that undermined sound economic order and unfair self-interest pursuit by the auspices family in areas closely related to the common people, such as various platforms and franchises,” and added, “‘Investment → “We focused on the deviant behavior of some companies and their families that run counter to the virtuous cycle of growth → fair profit distribution,” he said.
The subjects of the tax investigation announced by the National Tax Service on this day are largely divided into three areas: △ luxurious lifestyles using company assets △ driving valuable work, and △ unfair profits from undisclosed company information. First, the National Tax Service said that 14 companies were subject to a tax investigation that misappropriated company assets, and that many cases of moral hazard were discovered, including private misappropriation of overseas luxury homes, expensive sports cars, and various luxury expenses with company money. The amount of luxury property discovered for private use amounted to KRW 138.4 billion, including KRW 55.9 billion for luxury homes and villas, KRW 32.2 billion for supercars, yachts, and artwork, and KRW 50.3 billion for other private expenses such as payment for overseas study abroad.
Luxury homes and villas:
Specifically, the owner’s family builds a luxury home in an overseas resort under the name of the corporation and uses it, expensive art pieces purchased in the name of the corporation are stored in a private warehouse rented by the owner, and the corporation pays the educational expenses of the owner’s grandchildren at overseas private schools, etc. It is said that the National Tax Service has discovered actions such as the corporation covering the tuning and maintenance costs of dozens of supercars owned by the owner.
The second type was cases where wealth was passed down through expedient means, such as by giving a profitable business to the owner’s children or giving them stable work. This includes cases where a company owned by a child is given valuable customers and sales increase dozens of times in one year, or a company acquired by the child’s company for billions of won is grown through internal transactions and then reacquired for tens of billions of won. In addition, cases of leakage of corporate profits due to unfair internal transactions, etc. were also included in the tax investigation agency, such as leaking corporate funds in the name of business acquisition without settling the pre-paid delivery agency fee to the rider, or providing franchise interior construction to a specific company in return for compensation. The fees received were for cases where reporting was omitted.
16 companies and Assets:
There are a total of 16 companies and families subject to tax investigation of these types, and the children of the owners who were subject to the investigation started businesses such as driving work based on an average initial capital of KRW 6.6 billion and earned an average of KRW 103.6 billion after just five years. The tax authorities found that assets were increased based on size. In particular, a case was discovered among the children of the owner whose assets were estimated at 600 billion won, and they are accused of tax evasion by failing to properly report gift tax during this process.
In addition, seven companies that gained unfair market profits by using the company’s undisclosed information during the process of going public and entering new businesses were also included in the investigation. This includes cases where stocks scheduled to be listed were acquired using undisclosed information with funds gifted from parents and enjoyed a profit of nearly 70 times after the initial public offering, or stocks scheduled to be listed were gifted and the stock value jumped 20 times after listing.
Saju family private interests:
An official from the National Tax Service said, “We plan to thoroughly verify the pursuit of private interests of the Saju family, which has undermined the economic stability of the people’s livelihood and undermined fairness,” and added, “In particular, we will thoroughly respond to the unfair behavior of the Saju family that has caused direct and indirect damage to ordinary people, including consumers and small business owners.” revealed.
By 24Webs.com
