More South Korean conglomerates have been registering subsidiaries in offshore tax havens, according to corporate researcher Chaebul.com. The number of South Korean companies established in the top 10 offshore tax havens last year jumped nearly 60 percent on-year from 54 to 86, indicating more conglomerates taking advantage of lower tax… – Continue reading
South Korea’s largest business conglomerates have been setting up more paper companies in tax havens around the world, a report by a local corporate research firm showed Monday. With the exception of holding companies for shipping lines, the number of South Korean companies located in the top 10 offshore tax… – Continue reading
April 2 — The Treasury Department and the Internal Revenue Service announced that countries that have reached intergovernmental agreements (IGAs) in substance under the Foreign Account Tax Compliance Act before July 1 will be treated as having signed agreements through Dec. 31, 2014, winning praise from practitioners. The government also said… – Continue reading
The Treasury Department added 19 nations to its list of countries that have reached agreements with the U.S. on carrying out a far-reaching law aimed at preventing offshore tax dodging by American citizens. The Treasury and the Internal Revenue Service said the 19 nations – including Australia, Brazil, South Africa… – Continue reading
SEOUL, March 20 (Yonhap) — South Korea’s tax office said Thursday it has launched an investigation into the country’s largest entertainment agency amid rumors of offshore tax evasion by the company that manages some of the top K-pop celebrities. The National Tax Service (NTS) recently sent dozens of auditors to… – Continue reading
