April 24, 2024

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[THE INVESTOR] Samsung Electronics may be required to pay additional corporate taxes of about 500 billion won (US$437.70 million) due to an accounting error, industry sources said on April 10.

The National Tax Service, during its regular audit, has found discrepancies in the way the company calculated its corporate expenses, sources said. 

The tax agency, however, is reportedly not considering filing criminal charges because Samsung is not seen to have intentionally tried to avoid paying taxes.

“Samsung and the NTS seem to be interpreting the tax laws differently,” a source said, adding that Samsung is likely to take the issue to the National Tax Tribunal or an administrative court.

By Song Seung-hyun (ssh@heraldcorp.com)