Ji Chang Wook’s Agency Releases Statement Regarding His Tax Audit And Penalty 

Ji Chang Wook’s agency has issued a formal statement regarding the results of his recent tax audit.

On May 2, Field News reported that Ji Chang Wook had been subjected to an irregular tax audit by the National Tax Service this past March. According to the report, the actor was ordered to pay billions of won (millions of dollars) as a result of the audit.

That same day, Ji Chang Wook’s agency Spring Company responded by releasing the following statement:

Hello. This is Spring Company.

We are making an official statement regarding the report about our actor Ji Chang Wook’s tax audit.

First, we sincerely apologize for giving many people cause for concern through this incident. However, we would like to clearly state that there was absolutely no intentional omission of income or tax evasion through dishonest means.

During the recently conducted tax audit, our company transparently submitted all relevant materials and diligently cooperated with the investigation. However, we found that there was a difference in opinion with the tax authorities on the interpretation and application of tax laws regarding whether the earnings from the actor’s activities in the entertainment industry should be attributed to the individual or the corporation under the principle of taxation based on economic substance.

Despite this difference in opinion, we respect the findings of the National Tax Service’s audit, as [Ji Chang Wook] has strictly adhered to all tax-related laws and procedures without any issues and has always considered the diligent fulfillment of his tax obligations a top priority ever since his debut in 2008. Therefore, we plan to pay the imposed penalty tax without delay, in accordance with the relevant procedures.

In order to prevent a similar incident from occurring in the future, we will review our tax and accounting management systems even more closely, and we will continue to diligently fulfill our tax obligations while upholding the law and related principles.

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Lee Yi Kyung’s Agency Releases Statement Regarding Recent Tax Penalty Imposed On His One-Man Agency

Lee Yi Kyung’s agency has issued an official statement regarding the results of a tax audit of his one-man agency.

Recently, an irregular tax audit was conducted by the National Tax Service on Lee Yi Kyung’s one-man agency. Tax authorities determined that there was a possibility of tax avoidance, as the corporation established by Lee Yi Kyung had processed a portion of his personal income as corporate revenue, thereby benefiting from the lower maximum corporate tax rate compared to the personal income tax rate.

On May 13, Lee Yi Kyung’s agency SANGYOUNG ENT released an official statement and apologized for causing concern to his fans.

Read the full statement below:

Hello, this is SANGYOUNG ENT.

We would like to address the results of the tax audit concerning our agency’s actor Lee Yi Kyung.

First, we deeply apologize for causing concern to many people due to this matter.

Since his debut, Lee Yi Kyung has always complied with tax laws and faithfully fulfilled his tax obligations. Throughout the recent tax audit process, he diligently cooperated with the investigation by transparently submitting all relevant materials.

The results of this tax audit arose from a difference in the interpretation of tax laws between the tax authorities and our agency regarding the criteria for expense reporting during the operation of our corporation. We would like to clearly state that there was absolutely no intentional omission of income or tax evasion through dishonest means.

Our agency respects the findings of the National Tax Service, and we will pay the imposed penalty tax without delay in accordance with the relevant procedures.

Once again, we sincerely apologize for causing concern to many, and we will more thoroughly examine our tax and accounting management systems to ensure that similar issues do not occur in the future. We will continue to abide by the law and principles, and faithfully fulfill our tax obligations.

Recently, the entertainment industry has been embroiled in controversy as several actors were found to have had additional taxes imposed due to issues in the tax management process involving their one-man corporations.

While one-man agencies are a common method used by celebrities to manage their earnings and expenses in a corporate format, the ongoing controversies led the Korea Management Federation to urge institutional improvements regarding celebrities’ one-man corporations and tax issues last February.

Source (1)

Lee Yi Kyung’s Agency Releases Statement Regarding Recent Tax Penalty Imposed On His One-Man Agency插图

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