Coupang (photo = Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] It has been confirmed that the National Tax Service is conducting a special tax investigation into the domestic e-commerce company Coupang.

According to industry sources on the 13th, the Seoul Regional Tax Office began a tax investigation at the Coupang Korea headquarters in Sincheon-dong, Seoul, in mid-last month, deploying officials from the International Trade Investigation Division. This investigation is not a regular audit conducted every 4 to 5 years but a special tax investigation.

The International Trade Investigation Division mainly conducts tax investigations on companies with foreign capital investment or overseas entities. When there are suspicions of overseas tax evasion, the International Trade Investigation Division takes action.

In fact, it is known that the National Tax Service is focusing on verifying tax evasion in international transactions as Coupang's parent company, Coupang Inc., is a U.S.-based company.

Coupang recorded sales of KRW 31.8298 trillion and operating profit of KRW 617.4 billion last year. Coupang Inc., chaired by Bom Suk Kim, is structured to effectively control Coupang Korea through differential voting rights. Coupang Inc. owns 100% of the shares of Coupang Korea.

 

 

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