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SM Entertainment Wins Tax Ruling | South Korea News
SM Entertainment pulls off a major legal victory after a Seoul court rules that the government’s attempt to impose over 12 billion won in extra taxes on payments to founder Lee Soo-man was unlawful — because tax officials couldn’t prove what a fair market rate for his services should have been. Despite acknowledging the payments were excessive, the court found the tax assessment lacked proper evidence and canceled both corporate and VAT penalties. The win is a huge boost for the K-pop powerhouse, protecting its finances and setting a precedent on how tax authorities must justify their claims…
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