ID :
197640
Wed, 07/27/2011 - 14:53
Auther :
Shortlink :
http://m.oananews.org//node/197640
The shortlink copeid
S. Korea's tax agency probing into Samsung Electronics
SEOUL, July 27 (Yonhap) -- South Korea's tax agency has launched an investigation into Samsung Electronics Co. as part of its annual probe into local conglomerates, government and company sources said Wednesday.
The National Tax Service (NTS) dispatched 30 officials to the headquarters of Samsung Electronics in southern Seoul on Tuesday and launched the probe that will last for about three months, according to officials close to the matter.
The investigation is the first in four years conducted into Samsung Electronics. During the second half of 2007, the NTS carried out a probe into Samsung and collected 18 billion won (US$17.1 million) in additional taxes.
Samsung Electronics, the flagship company of Samsung Group, which holds about 70 affiliates under its wing, confirmed that is currently under the NTS's regular probe.
"The NTS's revised rules call for investigations into companies with annual sales of 500 billion won or more every four years starting this year," a Samsung official said on the condition of anonymity.
The probe comes after the NTS recently completed a probe into Samsung's other units. The NTS reportedly completed its probe into Samsung Everland Inc. last March, and its investigations into Hotel Shilla Co. and Samsung Heavy Industries Co. were also recently completed.
The investigation into Samsung units drew attention as it came on the heels of some controversial remarks made by Samsung Electronics Chairman Lee Kun-hee against government economic policies.
In March, Lee criticized the "profit sharing" concept proposed by former Prime Minister Chung Un-chan, who urged large businesses to share their excess profits with smaller subcontractors. Lee told reporters on the sidelines of a local meeting with business leaders that he has never heard of such a concept in his life.
Asked about the current economic policy pushed by the government, Lee also caused controversy by saying that it is a little better than "failure," drawing outcry from some senior policymakers. He later retracted the comment, saying his real intention was misunderstood.
Observers have raised suspicions that the tax probes simultaneously launched into the three Samsung affiliates might have something to do with those words by the usually taciturn business leader.
Samsung had dismissed the suspicion, saying the probe is no more than a regular tax investigation into large conglomerates.
The National Tax Service (NTS) dispatched 30 officials to the headquarters of Samsung Electronics in southern Seoul on Tuesday and launched the probe that will last for about three months, according to officials close to the matter.
The investigation is the first in four years conducted into Samsung Electronics. During the second half of 2007, the NTS carried out a probe into Samsung and collected 18 billion won (US$17.1 million) in additional taxes.
Samsung Electronics, the flagship company of Samsung Group, which holds about 70 affiliates under its wing, confirmed that is currently under the NTS's regular probe.
"The NTS's revised rules call for investigations into companies with annual sales of 500 billion won or more every four years starting this year," a Samsung official said on the condition of anonymity.
The probe comes after the NTS recently completed a probe into Samsung's other units. The NTS reportedly completed its probe into Samsung Everland Inc. last March, and its investigations into Hotel Shilla Co. and Samsung Heavy Industries Co. were also recently completed.
The investigation into Samsung units drew attention as it came on the heels of some controversial remarks made by Samsung Electronics Chairman Lee Kun-hee against government economic policies.
In March, Lee criticized the "profit sharing" concept proposed by former Prime Minister Chung Un-chan, who urged large businesses to share their excess profits with smaller subcontractors. Lee told reporters on the sidelines of a local meeting with business leaders that he has never heard of such a concept in his life.
Asked about the current economic policy pushed by the government, Lee also caused controversy by saying that it is a little better than "failure," drawing outcry from some senior policymakers. He later retracted the comment, saying his real intention was misunderstood.
Observers have raised suspicions that the tax probes simultaneously launched into the three Samsung affiliates might have something to do with those words by the usually taciturn business leader.
Samsung had dismissed the suspicion, saying the probe is no more than a regular tax investigation into large conglomerates.