Actor Yoo Yeonseok has lost his second tax appeal against the National Tax Service (NTS).
According to a report by Edaily, the Tax Tribunal recently dismissed a tax appeal filed by Yoo Yeonseok against the NTS. Following the report, a representative from Yoo Yeonseok's agency, King Kong by Starship, cautiously stated, "This matter stems from a difference in views regarding the interpretation and application of tax laws, and not all related procedures have been concluded at this time."
Previously, in March of last year, the NTS determined that Forever Entertainment, a one-person entertainment agency headed by Yoo Yeonseok, had not provided substantial support for his entertainment activities. The NTS subsequently conducted a tax audit and notified Yoo Yeonseok that he would be subject to a tax assessment of more than 6 billion won, including income tax.
Yoo Yeonseok's side challenged the notice by first requesting a pre-assessment review. A pre-assessment review is a procedure that allows taxpayers to object to a proposed tax assessment before a formal tax assessment is issued. During this process, the issue of double taxation was acknowledged, reducing the additional tax assessment to more than 3 billion won. Yoo Yeonseok paid the adjusted amount in full.
Afterward, Yoo Yeonseok's side argued that there were still differences in interpretation of tax law regarding the finalized tax assessment of more than 3 billion won and filed a second appeal with the Tax Tribunal. A tax tribunal appeal is a formal procedure for challenging an already finalized tax assessment and seeking its cancellation, making it a step beyond the earlier pre-assessment review. However, the Tax Tribunal ruled that the NTS's tax assessment was justified and dismissed the appeal.
As a result, Yoo Yeonseok's side is now more likely to pursue the matter through an administrative lawsuit.
Meanwhile, Forever Entertainment is a corporation established by Yoo Yeonseok in March 2015. Its registered business purposes include entertainment artist management, content development, music production, concert planning, and publicity rights-related business. Yoo Yeonseok had served as an inside director since the company's establishment before becoming its CEO in November 2024.
Photo=Reporter Baek Seung-chul
(SBS Entertainment News | Kang Kyung-youn)