Actor Jo Jin-woong clarified through his agency about being assessed 1.1 billion won in taxes due to a tax audit.

On the 22nd, Jo Jin-woong's agency, People Entertainment, stated to OSEN, "Jo Jin-woong was assessed approximately 1.1 billion won in taxes during the regular tax audit by the tax authorities and fully paid the assessed taxes in respect of the decision made by the tax authorities."

Recently, starting with actress Lee Ha-nee, many entertainers, including Yoo Yeon-seok, have been revealed to be assessed additional taxes amounting to tens of billions of won due to tax audits by the National Tax Service. Among them, it was reported this morning that Jo Jin-woong was also assessed 1.1 billion won in taxes.

However, all of them are emphasizing a 'difference in views' regarding the application of tax laws. There was a difference of opinion between the tax representative and the tax authorities on whether the revenue earned through a 'corporation' established separately by the individual actor is subject to personal income tax.

In this regard, Jo Jin-woong's side stated that they paid the full amount without delay and emphasized, "As a citizen of South Korea, I have always strived to fulfill my tax obligations faithfully" and reiterated that they will continue to meet their responsibilities and duties.

The following is the full statement regarding Jo Jin-woong's tax audit results revealed by People Entertainment.

Actor Jo Jin-woong was assessed approximately 1.1 billion won in taxes during the regular tax audit by the tax authorities and paid the assessed taxes in full in respect of the decision made by the tax authorities.

The issue at hand involved whether the revenue of a corporation established by actor Jo Jin-woong is subject to personal income tax. This arose from the differing interpretations and applications of tax laws between the tax representative and the tax authorities. Jo Jin-woong filed and paid corporate taxes according to the general tax processing methods for corporate revenue, but the tax authorities made a decision to additionally assess income taxes.

Actor Jo Jin-woong made the full payment of the assessed taxes without delay according to the decision of the tax authorities.

However, the decision by the tax authorities was a departure from the then-current tax practices, and it was a contentious issue with differing opinions among experts and academia. To get a legal judgment on the decision of the tax authorities, a careful request for a review by the Tax Tribunal was made, and the hearing is currently in progress. Similar cases are also understood to exist in significant numbers.

Actor Jo Jin-woong has consistently strived to fulfill his tax obligations faithfully as a citizen of South Korea and promises to continue to comply thoroughly with laws and procedures while fulfilling his responsibilities and duties.

[Photo] OSEN DB.

[OSEN]