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YG Entertainment penalized with hefty fine for evading taxes

By jubilantj   Wednesday, August 24, 2016   54,178   4,715   167
yang-hyun-suk

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YG Entertainment was penalized for tax evasion. 


SEE ALSO: YG Entertainment releases statement on National Tax Service investigation


According to various entertainment sources, the National Tax Service (NTS) Seoul Regional Office's investigative branch recently completed their regularly scheduled tax audit on YG Entertainment which had begun back in May


Following the audit, the NTS fined the conglomerate a fee of 3.4 billion KRW (~$3.03 million USD) for failing to pay the necessary taxes. It was reported that the NTS looked into YG's business expansions along with the operation of their foreign branch offices. 


Back in 2008, YG Entertainment was also fined 2.8 billion KRW(~$2.5 million USD) for misappropriating employee funds and falsifying numbers on financial statements. 


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    Tags:

    1. Yang Hyun Suk
    2. yg entertainment


    alex_grey Thursday, August 25, 2016

    emmm.. am i rude if i say i'm not suprise? because this is not the 1st time big 3 companies had this scandal....YG penalize amount is totally small to be compared to SM tbh...Yg need to fix his account,, please hire one accountant that specialise in this field..i know it kinda hard for big company like them that have alot of overseas work to properly handle their tax correctly in short time....hope after this yg learn the lesson and fix the problem and be a more better company...i already immune with the hate yg and his artist get, so i dont even care about the rude comment from hater.. but yg, i know you pay for the fine but after this please be a good company example and pay your tax properly before you get penalize again...

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    FriedChickenLove Thursday, August 25, 2016

    YG needs to becareful, thats how they got Blade!

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    Shaichu1995 Thursday, August 25, 2016

    YG wyd?

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    daFoolio Thursday, August 25, 2016

    be a good citizen and pay your taxes!  or get a great accountant and write them all off!

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    nami_chan daFoolio Thursday, August 25, 2016

    I agree

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    Zapszap Thursday, August 25, 2016

    but then again only when YG artists gaining some attention this kind of news comes one after another. i hope this wont affect BP.

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    tyneexxx Thursday, August 25, 2016

    Blackpink need to work hard to pay for YG.. poor girls or he's gonna use Big Bang to make money

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    shannnnt Thursday, August 25, 2016

    He needs a manager smh.

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    Knigin Thursday, August 25, 2016

    YG sucks.

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    _CLeO Knigin Thursday, August 25, 2016

    False

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    Knigin _CLeO Thursday, August 25, 2016

    He does suck though so yeahhh

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    DJ_OKOV4 (Banned) Thursday, August 25, 2016

    such a criminal label

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    _CLeO  DJ_OKOV4 (Banned) Thursday, August 25, 2016

    Stop being stupid

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    DJ_OKOV4 (Banned) Thursday, August 25, 2016

    stop buying your own label digital song, pay tax is more important

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