Actor Yoo Yeon Seok has found himself in the middle of a tax controversy, but his agency is shutting down the claims.
On March 14, Yoo Yeon Seok’s agency, King Kong by Starship, addressed the reports about his alleged tax evasion.
They stated, "This matter stems from differences in the interpretation and application of tax laws between our tax representative and the tax authorities. We are currently awaiting the tax authorities’ notification after undergoing a preliminary tax review."
The agency also emphasized that "this is not a finalized or officially notified matter at this stage, and we plan to actively clarify the relevant issues through proper legal procedures."
Earlier, CBS No Cut News reported that Yoo Yeon Seok was audited by the National Tax Service while establishing his entertainment agency, Forever Entertainment. The report claimed that he was hit with an additional tax charge of 7 billion KRW.
However, King Kong by Starship explained, "This issue arose because Yoo Yeon Seok developed and produced YouTube content as part of his entertainment career while also running a company for other business ventures, including the food and beverage industry."
They added, "The tax authorities interpreted the company’s income from the past five years as personal income rather than corporate income. As a result, despite reporting the income under corporate tax, personal income tax was imposed."
The agency stressed that Yoo Yeon Seok has always been committed to paying his taxes properly. "He has always prioritized fulfilling his tax obligations faithfully and will continue to do so as a responsible citizen by strictly following all relevant laws and procedures."
Meanwhile, Yoo Yeon Seok is set to return to the small screen with his upcoming SBS drama Shin-i & Law Office! Stay tuned for more updates!
Source: [1]
