MBC News Screws YG Over
“Suspicions over reducing real profit made from overseas concerts when declaring them”
“Newsdesk” reported on allegations that YG Entertainment and Yang Hyun Suk are under suspicion of tax evasion in relation to overseas performances. According to “Newsdesk,” YG Entertainment has earned approximately 300 billion won (approximately $265.7 million) in sales every year for the past three years, which also includes sales from world tour performances overseas by their label artists.
However, YG is under suspicion of underreporting their overseas concert earnings to the National Tax Service. The apparent method involves YG Entertainment reporting the earnings as their artists’ individual income rather than earnings of the agency. As they would be reporting less earnings, the agency would also be paying less in taxes.
In addition, “Newsdesk” reported that the National Tax Service is focusing specifically on Yang Hyun Suk, the founder of YG Entertainment. According to MBC, the National Tax Service has found what appears to be abnormal stock transactions by Yang Hyun Suk and are currently focusing on tracking the whereabouts of the money from the stock sales. They are also said to be looking into the foreign investment capital Yang Hyun Suk has personally talked about, whether the investors actually exist, where the investments come from, and the nature of the investments.
original post: theqoo
2. I thought that concert prices were fixed before hand? So it means that there’s money that should’ve went to the artists that YG kept for himselfㅋㅋㅋ
3. You’re never supposed to be in deficit after a concert, they evaded taxes, heck how many concerts have they done already and you’re telling me that they’re in the negatives?
“Everyone, you’re envious that I have a lot of money right?”
5. Wow YG is seriously going to fail
6. YG is really about to fail
8. He really lived his life doing everything he could do wrongly
9. Wow he’s getting investigated by the national tax service…. It’s over for him….
“Really?? What should I do…”
Remove your hand