National Tax Service Launches Investigation On YG For Tax Evasion Suspicions
Updated March 20 KST:
YG Entertainment has responded to reports of the company receiving a tax investigation.
On March 20, the company commented, “We will cooperate diligently with the tax investigation from the National Tax Service.”
YG Entertainment is undergoing a special tax investigation.
Previously on March 18, YG Entertainment said that the company has not received a notice of a tax audit.
However on March 20, the National Tax Service sent investigators to YG Entertainment’s headquarters in Mapo District, Seoul to retrieve tax-related documents. It has been reported that almost 100 investigators were present on scene.
YG Entertainment previously received a regular tax investigation, which is normally held every five years, in 2016. This new investigation is a special tax investigation led by the 4th Investigation Bureau of the National Tax Service Seoul Regional Office.
This investigation is not limited to the finance-related departments but involves a wide range of departments such as performance and marketing.
Stay tuned for more details.