Celebrities in South Korea are facing hefty tax bills as controversies arise over their use of personal corporations to minimize taxes. Yoo Yeon-seok, known for his roles in popular K-dramas, has been hit with a tax bill of approximately $4.8 million, the largest ever imposed on a South Korean celebrity. Yoo’s agency, KingKong by Starship Entertainment, has stated that the tax assessment results from differing interpretations of tax law between Yoo’s tax representative and the authorities.
Yoo is not the only celebrity facing tax scrutiny, as actress Lee Ha-nee and actor Park Hee-soon have also been hit with hefty tax assessments. The trend has raised questions about celebrities using personal corporations to lower tax liabilities, as corporations are generally taxed at lower rates than individuals in South Korea.
Celebrities like Park Hee-soon, Lee Ha-nee, and Yoo Yeon-seok operate personal corporations despite being affiliated with other agencies. They argue that the disputes stem from differing interpretations of tax law, not intentional tax evasion.
Public criticism has been growing over allegations of high-profile figures avoiding taxes, with Yoo Yeon-seok facing backlash over his appearance in an upcoming series. SBS, the broadcasting company behind the show, has not yet released a statement regarding Yoo’s involvement.
The controversy surrounding celebrities and taxes continues to unfold, as the National Tax Service in South Korea cracks down on individuals using personal corporations to minimize taxes.
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