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YG Entertainment goes under investigation by the National Tax Service for tax evasion

By jennywill   Sunday, May 1, 2016   63,533   8,285   301
yang-hyun-suk

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The National Tax Service has begun its investigation into YG Entertainment.

With YG Entertainment under investigation, there are speculations that the National Tax Service's final goal is toward Yang Hyun Suk. The NTS is currently investigating on suspicions that YG Entertainment had not reported its label artists' overseas income properly. There are investigations on offshore tax evasion through foreign currency exchange, and also on suspicions that YG Entertainment had created a paper company for their concert income. 


Not only so, but the NTS will be investigating on whether the income distribution to the celebrities in the label is transparent, and will be checking if the amount that YG Entertainment reported as fees and the amount that the label artist reported as income will match, meaning each artist under the label will be under investigation as well.

Insiders in the industry predict that YG Entertainment will have to pay tens of billions of KRW (~8.8 million USD) in additional taxes. An insider said, "Most people thought that the additional taxes paid through the 2008 investigation was too little. As the industry has grown, the additional taxes must have also grown." In 2008, YG Entertainment had to pay 2.8 billion KRW (~2.4 million USD), and some managers had to even go through prosecution investigations because of tax evasion.
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    Tags:

    1. Yang Hyun Suk
    2. yg entertainment


    iluvtiffanyswigs Monday, May 2, 2016

    *Minzy laughs while twerking*

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    michinpabo Monday, May 2, 2016

    So the NTS has scheduled an inspection of YGE's earnings which seems to be a normal practice and AKP decided to turn it into a tax evasion investigation just to punch up the story. lol Shameless..

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    Lotus_Girl michinpabo Monday, May 2, 2016

    seriously where did you ever heard about an audit who start a investigation for something simple or normal as Tex? if there isn't something weird a audit or commission would never start a investigation ..

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    michinpabo Lotus_Girl Monday, May 2, 2016

    Random audits happen all the time in real life. You must be be referring to audits that you see on TV shows.

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    Lotus_Girl michinpabo Monday, May 2, 2016

    Never mind

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    1Minoz michinpabo Tuesday, May 3, 2016

    No, they audit when they see something irregular. It might be misfiled or nothing serious but I doubt the government just do random audits.

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    hydethislove 1Minoz Wednesday, May 4, 2016

    Nope. My friend works in the music industry in Korea and she said audits like this are a normal and not an unheard of thing.

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    Lotus_Girl Monday, May 2, 2016

    In my years as a Economic student, accounting student, I did never heard of a commission or a audit who start an investigation for a simple normal Tax problems...

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    galaxyifan Lotus_Girl Friday, May 6, 2016

    why did people even disliked the comment she's speaking the truth y'all

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    Lotus_Girl galaxyifan Friday, May 6, 2016

    Because I'm SM Stan LooL

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    galaxyifan Lotus_Girl Friday, May 6, 2016

    i honestly just come here to watch the fanwar and it's pretty hilarious

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    Exo_Leia Monday, May 2, 2016

    Ohhh YG.... Again? Lemme go see what they said in the other article

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    Lotus_Girl Exo_Leia Monday, May 2, 2016

    No need, they said NORMAL TAX :P :P

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    Exo_Leia Lotus_Girl Monday, May 2, 2016

    Thank you~~

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    Lynnbia Monday, May 2, 2016

    I'm laughing so hard as some stupid people in the comment section x'D go read the latest article before oppening ur month

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    Francias1 Monday, May 2, 2016

    Nevermind it's just normal tax inspection

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    Lotus_Girl Francias1 Monday, May 2, 2016

    Honey Tax Commission or audit never start an investigation for a simple normal Tax .. You should google this up .. ;) This is what I study :3 :3

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    hydethislove Francias1 Wednesday, May 4, 2016

    yup just a regular tax inspection. My friend works in the music business industry in South Korea and she said it's perfectly normal for big companies to go under audits.

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    Francias1 Monday, May 2, 2016

    YG, why? Koreans already hate your artists for no reason and now this just adds fuel to the fire, why can't some rich people just pay the taxes

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    tyneexxx Monday, May 2, 2016

    this always happen to rich people~

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    Francias1 tyneexxx Monday, May 2, 2016

    not true

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    SimonaBB Monday, May 2, 2016

    Why can't they just do things properly? Ugh, YG really is a mess...

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    Lynnbia SimonaBB Monday, May 2, 2016

    it was confirmed that it's just a normal inspection ... just people trying to hate

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    SimonaBB Lynnbia Monday, May 2, 2016

    Ok then, anyway FYI my bias group is BigBang (the BB in my NM stands for that), and I'm also a huge 2ne1 fan, so I don't consider myself a hater.

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    Lotus_Girl SimonaBB Monday, May 2, 2016

    I did never hear of a commission or a audit that start an investigation for simple normal Tax in my whole life :3

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    satty Monday, May 2, 2016

    The company's problem, the idols under the company are troublemakers, drug addicts, murderers. The South Korean police should arrest everyone !!! lol

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    SungEunJae01 satty Monday, May 2, 2016

    Oh come on shut up

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