SM Entertainment to Pay Additional 10.2 Billion Won in Taxes After Audit

[bunica1990.livejournal.com]

K-Pop’s most powerful label and producer, SM Entertainment, has been ordered to pay an additional 10.2 billion KRW in corporate taxes following a tax audit into the company by the National Tax Service earlier in March.

In a official press release today, SM Entertainment explained that the 10.2 billion KRW (~10 million USD) additional tax payment is due to the foreign tax payment credit difference for SM Entertainment Japan. In an effort to appease concerns over such a large withdrawal of money from the company funds, SM Entertainment stated that it is seeing this as an opportunity, rather than a burden, to create a more stable global business in the future. “Through this tax audit, we will continue to build our company, the foremost entertainment company in Korea, as a transparent and exemplary business.”

SM Entertainment also emphasized that this tax audit revealed there was no tax evasion on the part of the company in regards to their overseas business and income from concerts. It was also found that there was no support for suspicions regarding SM Entertainment’s overseas real estate.

Source: soompi and naver

Sure Jan!

Comments

[tiggie0307.livejournal.com]

well they are taking this well.

[torontok.livejournal.com]

lmao SM needs a spanking.

[gigabytexx.livejournal.com]

omg this is so adorable

[torontok.livejournal.com]

Kris x angry birds is generally adorable

[lovejae23.livejournal.com]

kris x angry bird = OTP tbh

[jaejoong.livejournal.com]

[jaejoong.livejournal.com]

LMAO does he look a bit Kris-like in this pic? I don't really know Kris well enough to notice.

[juhli.livejournal.com]

this gif is killing me xD

[edanz-castle.livejournal.com]

Perfect usage of gif

[waterpulse.livejournal.com]

That's jaejoong, the original kris.

[aneeleniffum.livejournal.com]

Lol what (just playing with you though)

[missingmisnomer.livejournal.com]

lol ok sm ok

[deftbones.livejournal.com]

walk it off sm just walk it off

[magicpineapple.livejournal.com]

lmao this

[pepper.livejournal.com]

lol good.

Anyway, OP, I love your icon.

[bunica1990.livejournal.com]

Thanks bb

[imienazwisko.livejournal.com]

so was oreogate a cover up?

[stoppedclock321.livejournal.com]

some people are saying that oreogate came out a couple days too early, lmao. who knows? i do think oreogate was on purpose though, the dispatch shots were way too obvious.

other people are saying oreogate (which is a great name for this drama but makes me hungry every time i see it gdi) was a cover-up/distraction for kris? because apparently jjong/sekyung came out after the dbsk lawsuit and the timeline is similar.

[asnindie.livejournal.com]

I don't get this cover up for Kris thing. Nerizens have been on SM's side from the start. And destroying two careers of some of their most popular idols makes no sense at all.

[jeliza]

I wonder if comebacks for the most reliably money-making groups are going to be pushed up now to cover that big of a chunk being paid out? I wouldn't mind a DBSK mini before Yunho leaves for the army, tbh.

How much of this news is getting pushed down by Oreogate?

[torontok.livejournal.com]

I wonder how this will affect comebacks too. I'm guessing the videos are going to be extra cheap this time around

[stoppedclock321.livejournal.com]

There's been a rumored DBSK mini at the end of the year for a while, if I remember all the rumors going around correctly.

[innertide.livejournal.com]

I kinda want to see them go down, ngl. Their asses need to be taxed to hell and back

[asth77.livejournal.com]

So that's what they needed to cover up.
That's all I needed to know about that oreo story tbh.

[pepper.livejournal.com]

mte

[love-keiko.livejournal.com]

THIS.

[jayene25.livejournal.com]

lol, Oreogate is going to be more costly than this tax evasion shit!

[lysblack.livejournal.com]

[ababobaby.livejournal.com]

they got off the hook t b h

[love-keiko.livejournal.com]

they got off EASY---i swear that amount would spell jail time in some other countries but here, SME remains king.

and they stirred up SUCH a shit show to cover this up and it got out anyway! SME is just DELIVERING with the drama this year.

[nekokonneko.livejournal.com]

(http://imgur.com/DxpI2la)

[hipployta.livejournal.com]

YOU GONNA PAY WHAT YOU OWE SANTA SM

[hippodameia.livejournal.com]

Aww that show is good stuff.

[hipployta.livejournal.com]

SM if there isn't any tax evasion why you gotta pay 10 million dollars US...you evaded the hell out of taxes trying to hide the money in Japan lol

And this is really why the dating came out...lol

[asnindie.livejournal.com]

Did they really think they're were gonna get away with it? Some lame idol scandal isn't gonna cover up anything. SM now release those 47 covers of Exo repackage and pay them taxes.

[babyonions.livejournal.com]

SM's PR people suck

[luvey.livejournal.com]

They are getting off easy, I just suspect SM had a few strings pulled. But this could explain why SM is about to churn a bunch of releases out-
J. Min Korean debut
D&E has a surprisingly second Japanese release and maybe another tour
Henry has been working on his new solo
There is a rumored TTS (who knows if that will be affected by Oreogate)
SJ is due to comeback and SuperShow 6 will happen
Exo has their tour.
SMTown 4 tour.

With three/four tours, they will pay that real quick.
Maybe they will cut MV budgets and actually get rid of the stupid box having them shoot in real spaces.

[luvey.livejournal.com]

1. the boxes are cheap in that one set can provide a dance video AND the normal video.
but...
2. a box video doesn't always mean cheap. i mean yeah they recycle those sets like no tomorrow....but with the lighting, fancy floors. they could make a pretty decent MV with a story line out of a box. look at some of the newbies with barely any budget.

[luvey.livejournal.com]

i'm sorry bb....i didn't mean to forget about the real cinderella's of SME....
i

[mjspice.livejournal.com]

LOL!

[jaejoong.livejournal.com]

[aneeleniffum.livejournal.com]

HAHAHAHHAHA I LOLED SO HARD

[hellodee16.livejournal.com]

"... there was no tax evasion..."

[hitsujiga.livejournal.com]

so sm has no overseas real estate, no tax evasion with overseas business and concert income?.... suuuuuuuuureeeeeeeeeeeeeeeeeeeeeeeeeeeeee -.-

and pls 10m is not that much for sm..pls~~~ XDDD

[bomsnose.livejournal.com]

That went smooth. SM sure know who and when to bribe still, that 10 million couls be worse.

[lovejae23.livejournal.com]

there was no tax evasion