Actor Kwon Sang Woo was subjected to a tax investigation and was fined 1 billion won, despite his “model taxpayer” title
According to Aju Business Daily on Feb 27th, Kwon Sang Woo and his agency, Su Company, received an irregular tax audit from the National Tax Service around the beginning of 2020. Unlike regular tax audits, irregular tax audits are conducted when there are suspicions of tax evasion against the relevant corporate body or individual.
Kwon Sang Woo purchased 5 supercars, including Maybach, Ferrari and Rolls-Royce, worth hundreds of millions of won under the name of the corporate body he set up, and used them to evade taxes by reducing net profit.
Why does Kwon Sang Woo own expensive supercars under the name of a corporate body? Experts believe that he took advantage of the fact that there are many tax benefits given to corporate bodies, unlike individuals.
Some point out that Kwon Sang Woo purchased a medical building in Deungchon-dong, Gangseo-gu, Seoul for 28 billion won in May 2018 under the name of Su Company and aimed at reducing taxes due to the difference in tax rates between corporate bodies and individuals in the process of obtaining rental income.
According to Su Company’s audit report, it was revealed that the rental of the above-mentioned building generated income of 2.1452 billion won in 2020 and 2.38198 billion won in 2021.
In the end, Kwon Sang Woo and Su Company were fined 1 billion won as a result of the tax investigation by the National Tax Service. In this regard, Su Company explained to the media, “We paid all the fines imposed after the tax investigation, and sold all the vehicles (in question).”
Meanwhile, Kwon Sang Woo was selected as a model taxpayer along with singer Lee Hyo Ri, actresses Han Chae Young and Kim Hee Sun in 2005. He was also appointed as an honorary public relations member of the National Tax Service.
Source: insight
