According to TV Report, actor Yoo Yeon Seok has just been asked to pay 7 billion won in taxes, but the actor’s side opposes this decision.

CEO Yoo Yeon Seok was suddenly charged with back taxes when the phone rang – Photo: MBC

On March 14, TV Report reported that the National Tax Service (NTS) had just conducted a strict tax investigation on Yoo Yeon Seok . As a result, the actor was required to pay up to 7 billion won in taxes, including personal income tax. 

Notably, this amount far exceeds the amount of tax Honey Lee had to pay, becoming the highest fine ever recorded in the Korean entertainment industry. 

Yoo Yeon Seok denies allegations by Korean Tax Service

Similar to Honey Lee, the National Tax Service pointed out that Forever Entertainment – the company founded by Yoo Yeon Seok – had problems with tax  obligations . Therefore, they were forced to conduct a comprehensive inspection. 

However, after the results were out, Yoo Yeon Seok’s side objected and requested a review before applying the tax in January. This is the process when a taxpayer disagrees with the tax authority’s decision and requests an objective assessment from relevant departments. 

The National Tax Agency believes that the company founded by the actor has problems with tax obligations – Photo: MBC

Yoo Yeon Seok’s side said that they will actively clarify all issues during the review process to adjust the requested tax amount. The actor’s representative believes that through the explanation process, the 7 billion won tax amount will be drastically reduced to only about 3 billion won. 

“We are in the process of adjusting the tax amount during the pre-tax review process. 

We will clarify the controversy legally. This is not the final conclusion” – representative Yoo Yeon Seok said. 

In addition, the company emphasized that Yoo Yeon Seok has always fulfilled his tax obligations seriously and will continue to do so as a model citizen. 

The company confirmed that Yoo Yeon Seok paid taxes in full as a citizen – Photo: NAVER

Before Yoo Yeon Seok, on February 17, actress and beauty queen Hooney lee  was also asked to pay 6 billion won in taxes. Her company said this incident stemmed from a legal issue about whether artists who own businesses need to pay personal income tax or corporate tax.

Police are currently investigating Honey Lee’s suspected tax evasion case, after receiving a complaint from the public.