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Photo = Yonhap news |
[Alpha Biz= Paul Lee] South Korea’s National Tax Service (NTS) has filed a complaint with prosecutors against SK Telecom (KRX: 017670) over allegations of tax evasion through fictitious transactions involving an SK Group affiliate.
According to industry sources on June 17, the NTS recently convened a Tax Evasion Review Committee and decided to refer SK Telecom and certain former executives to the prosecution on charges related to the underreporting of value-added tax (VAT). A separate tax assessment process is underway to determine the final amount of unpaid taxes.
SK Telecom was under special audit since late 2023 over claims that it inflated revenue by assigning hundreds of billions of won worth of sham contracts to SK C&C (now SK AX), SK Group’s IT services affiliate.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
