"Was 400 billion won but Deficit?"..." "Tax avoidance" Netflix announces 80 billion Tax surcharges Executives

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Netflix, a global entertainment streaming Service, eventually received a Tax increase of 80 billion won from the National Tax Service.The National Tax Service recently announced that it will end the Tax investigation on Netflixs Korean subsidiary, Netflix Service Korea, and collect about 80 billion won in Taxes.Netflix has revealed its intention to pay the Tax bill of the National Tax Service.According to Netflix, the company has been faithful to the Tax investigation and will be judged again whether the Tax disposition is legitimate through additional legal procedures.Previously, the International Trade Bureau of the Seoul Regional Tax Office surveyed Netflix Service Korea in Jongno-gu, Seoul from August last year and deposited the data necessary for Tax investigation.The National Tax Service was scheduled to conduct a Tax investigation on Netflix for four months, but it turned into a Tax investigation in December last year due to Netflixs non-cooperation with the Tax investigation and the importance of the matter.Netflix, which literally burst into Agripot in Korea as the number of subscribers using the OTT platform increased significantly with Corona 19 fandemic.Here, we opened the opening of the OTT market in earnest by producing Content that captured not only domestic but also World such as Kingdom series, Human class and Sweet home.Above all, new Korean films that have lost their way to the theater with Corona 19 have been released as an OTT platform by holding the hands of Netflix, causing many changes in culture and art.Starting with Time of Hunting, domestic new works such as Call, Winning Lake and Night of Paradise were released through Netflix rather than theater.It is Netflix, which has benefited greatly from the increase in the number of domestic subscribers naturally.Netflixs domestic sales, which the Financial Supervisory Service announced in April this year, amounted to 415.45 billion won, with an operating profit of 8,820.48 million won.The net profit was 6,330.7 million won, up 427% from the previous year. Of course, large-scale investment continued as the domestic market grew.Netflix announced that it will enforce $500 million (about 560 billion won) of content investment in the country.In order to lay the foundations for long-term production for domestic original Content, we have also signed a lease agreement with two Content studios in Paju City and Yeoncheon County in Gyeonggi Province.But the problem was also significant: Netflix, which has been a monopoly on the domestic OTT market, has consistently remained unrecognized for Taxes to be paid as much as it earns.Netflix also paid only 2.18 billion won, which is 0.5% of its sales, to domestic sales of 400 billion won.The reason is that the corporation in the Netherlands resold the right to use in Korea and handed over most of the Korean sales to the Netherlands.The Tax industry has also suspected that Netflix deliberately avoided Taxes.In fact, Netflix has also paid corporate Taxes from Taxation authorities to avoid this type of Tax in other countries.In addition, the National Tax Service added to the crime of harassment caused by Netflixs refusal to submit sales data. According to the 80 billion won surcharge, the number of Netflixs refusal to submit data is analyzed at least 30.If the National Tax Service refuses or avoids submitting the data required by the National Tax Service, it imposes a fine of up to 20 million won per case.This dual attitude of Netflix has a considerable amount of balls in the OTT platform industry.Netflix has been under a huge Tax penalty of 80 billion won and has shown considerable burden.He immediately expressed his intention to pay for the Tax collection and covered the issue with an issue by announcing the head of the Korean Content department to cover this controversy.Netflix announced that Netflix Korea office director Kang Dong-han will take charge of VP of Korean Content, and Kim Min-young VP will take charge of the entire Asia-Pacific except India.The personnel promotion promoted the promotion of a total of six people in Asia, including two Korean content executives.Netflix, which has shown a strong belief in Netflixs deep trust in Korean content in the global market and the importance of the Korean market, has been widely announced, but it has shown a passive attitude toward Taxes, which are a natural obligation.It is noteworthy whether this dual attitude of Netflix will continue to capture the hearts of domestic subscribers.

Netflix, a global entertainment streaming Service, eventually received a Tax increase of 80 billion won from the National Tax Service.

The National Tax Service recently announced that it will end the Tax investigation on Netflix's Korean subsidiary, Netflix Service Korea, and collect about 80 billion won in Taxes. Netflix has revealed its intention to pay the Tax bill of the National Tax Service. According to Netflix, the company has been faithful to the Tax investigation and will be judged again whether the Tax disposition is legitimate through additional legal procedures.

Previously, the International Trade Bureau of the Seoul Regional Tax Office surveyed Netflix Service Korea in Jongno-gu, Seoul from August last year and deposited the data necessary for Tax investigation. The National Tax Service was scheduled to conduct a Tax investigation on Netflix for four months, but it turned into a Tax investigation in December last year due to Netflix's non-cooperation with the Tax investigation and the importance of the matter.

Netflix, which literally burst into 'Agripot' in Korea as the number of subscribers using the OTT platform increased significantly with Corona 19 fandemic. Here, we opened the opening of the OTT market in earnest by producing Content that captured not only domestic but also World such as 'Kingdom' series, 'Human class' and 'Sweet home'. Above all, new Korean films that have lost their way to the theater with Corona 19 have been released as an OTT platform by holding the hands of Netflix, causing many changes in culture and art. Starting with 'Time of Hunting', domestic new works such as 'Call', 'Winning Lake' and 'Night of Paradise' were released through Netflix rather than theater.

It is Netflix, which has benefited greatly from the increase in the number of domestic subscribers naturally. Netflix's domestic sales, which the Financial Supervisory Service announced in April this year, amounted to 415.45 billion won, with an operating profit of 8,820.48 million won. The net profit was 6,330.7 million won, up 427% from the previous year. Of course, large-scale investment continued as the domestic market grew. Netflix announced that it will enforce $500 million (about 560 billion won) of Content investment in the country. In order to lay the foundations for long-term production for domestic original Content, we have also signed a lease agreement with two Content studios in Paju City and Yeoncheon County in Gyeonggi Province.

But the problem was also significant: Netflix, which has been a monopoly on the domestic OTT market, has consistently remained "unrecognized" for Taxes to be paid as much as it earns. Netflix also paid only 2.18 billion won, which is 0.5% of its sales, to domestic sales of 400 billion won. The reason is that the corporation in the Netherlands resold the right to use in Korea and handed over most of the Korean sales to the Netherlands. The Tax industry has also suspected that Netflix deliberately avoided Taxes. In fact, Netflix has also paid corporate Taxes from Taxation authorities to avoid this type of Tax in other countries.

In addition, the National Tax Service added to the crime of harassment caused by Netflix's refusal to submit sales data. According to the 80 billion won surcharge, the number of Netflix's refusal to submit data is analyzed at least 30. If the National Tax Service refuses or avoids submitting the data required by the National Tax Service, it imposes a fine of up to 20 million won per case. This dual attitude of Netflix has a considerable amount of balls in the OTT platform industry.

Netflix has been under a huge Tax penalty of 80 billion won and has shown considerable burden. He immediately expressed his intention to pay for the Tax collection and covered the issue with an issue by announcing the head of the Korean Content department to cover this controversy.

Netflix announced that "Netflix Korea office director Kang Dong-han will take charge of VP of Korean Content, and Kim Min-young VP will take charge of the entire Asia-Pacific except India." The personnel promotion promoted the promotion of a total of six people in Asia, including two Korean Content executives.

Netflix, which has shown a strong belief in Netflix's deep trust in Korean Content in the global market and the importance of the Korean market, has been widely announced, but it has shown a passive attitude toward Taxes, which are a natural obligation. It is noteworthy whether this dual attitude of Netflix will continue to capture the hearts of domestic subscribers.