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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