Google pays way less tax in Korea: lawmaker


Google Korea is accused of evading over 600 billion won ($450 million) in taxes in 2023, only paying 2.5 percent of its estimated corporate tax dues, as revealed by Rep. Choi Su-jin of the People Power Party. Despite reporting revenue of 365.3 billion won, a report by Professor Jeon Seong-min estimated Google Korea's actual revenue at around 12.1 trillion won, indicating a significant underpayment of taxes. The company is suspected of minimizing tax payments by redirecting a substantial portion of its income overseas, raising concerns about transparency and fair competition in the local ICT industry. Choi highlighted the stark contrast in revenue reporting between Google Korea and major domestic companies like Naver, underscoring the need for legislative measures to ensure global tech firms operating in Korea are held to account. Emphasizing the importance of clear reporting of local revenues by service and addressing any ambiguities in cost calculations and tax filings, Choi called for swift action to prevent tax evasion and maintain a level playing field in the tech sector.


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