South Korean actor Yoo Yeon-seok was previously hit with an additional tax bill of about 3 billion KRW (approximately 863,000 MYR) by the National Tax Service and filed for administrative relief. However, Korean media reported on the 4th that the Korean Tax Tribunal has recently rejected his application, upholding the tax authority’s decision. If Yoo Yeon-seok remains dissatisfied with the result, he may proceed to file a further administrative lawsuit.
According to Korean media outlet 'Edaily', Yoo Yeon-seok has long conducted his entertainment activities through his own one-person agency, ‘FOREVER ENTERTAINMENT’. However, the National Tax Service determined that the company did not actually fulfill the operational and management functions required for entertainment activities, and therefore issued him a tax bill of about 6 billion KRW (approximately 1.726 million MYR) last year. After a pre-assessment legality review, the final additional tax amount was revised down to about 3 billion KRW. Yoo Yeon-seok paid the tax according to the law, then applied to the Tax Tribunal for administrative relief, seeking revocation of the tax penalty, but was finally rejected.
In response, Yoo Yeon-seok’s management company, 'King Kong by Starship', stated that the case arose from differences in interpretation and application of tax laws, and that all related legal procedures have not yet been fully exhausted. The agency noted that they will continue to conduct a detailed review of the case facts and legal issues and will sincerely cooperate with future proceedings in accordance with relevant regulations. The agency also emphasized that Yoo Yeon-seok has always faithfully fulfilled his tax obligations and will continue to take a responsible attitude toward related procedures in the future. #
News Source: ETtoday Star Cloud