SM Entertainment Files Administrative Lawsuit to Recover 20.2 Billion KRW in Taxes
Kim Jisun
stockmk2020@alphabiz.co.kr | 2024-07-08 05:53:48
[Alpha Biz= Reporter Kim Jisun] SM Entertainment has filed a lawsuit challenging the National Tax Service's (NTS) imposition of over 20.2 billion KRW in taxes related to allegations against former executive producer Lee Soo-man.
According to Kukmin Ilbo on the 8th, SM recently filed an administrative lawsuit in the Seoul Administrative Court. This legal action follows the rejection of their claims by the Tax Tribunal, which upheld the NTS's decision to collect 20.2 billion KRW from SM, deeming the tax amount lawful. The Tax Tribunal's decision was sent to SM on April 1st, and under current law, an administrative lawsuit can be filed within 90 days of receiving the decision.
An SM representative explained, "We filed the lawsuit in administrative court to seek a legal judgment."
As a result, Kakao, which acquired SM Entertainment in May, now faces the burden of legal costs for an issue that arose prior to the acquisition.
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