Seven well-known YouTubers have been nabbed for evading around W4 billion in taxes (US$1=W1,197).
A National Tax Service probe has found that the seven evaded W4.5 billion in income tax. The NTS nabbed one YouTuber last year for tax dodging and six this year, fining them a total W1 billion.
The number of YouTube channels in Korea with more than 100,000 subscribers rose from 367 in 2015 to 1,275 in 2017. Many of their operators rake in a lot of money from advertising, endorsement deals and product sales but hide it from the tax man because the regulations have not yet caught up with new business models.
At present, tax officials get information from the Bank of Korea if YouTubers' advertising profits surpass $10,000 and are wired to them from Google's Asian headquarters in Singapore.
The NTS recently started systemically tracking revenues of YouTubers and other newly emerging businesses, but their income details will only be known when they file their tax returns in May next year.
Source : english.chosun.com/si...
Tens of Thousands of Elderly People Turn in Driver's Licenses
Some 43,000 senior citizens voluntarily turned in their driver's license from January to September,...More
Korea Rises to 13th in Global Competitiveness
Korea's overall competitiveness ranking rose two notches to 13th among 141 countries in a World Economic Forum report released Wednesday. It has improved from No. 17 in 2017 and No. 15 last year,...More
Convict Seeks Retrial After Serial Killer's Confession
Lee Chun-jae (center) in a photo from his high-school yearbook A man who served 20 years in jail ,...More
Subscribe to HanCinema Pure to remove ads from the website (not for episode and movie videos) for US$0.99 monthly or US$7.99 yearly (you can cancel anytime). The first step is to be a member, please click here : Sign up, then a subscribe button will show up.