Dram Man: Tax Service to Forgeiners "Give Us More, You Spend Too Much"

Tuesday, January 24, 2006

Tax Service to Forgeiners "Give Us More, You Spend Too Much"

In a sure sign that will promote Korea as the foreigner friendly Hub of Northeast Fantasyland the Tax Service is auditing firms for puzzling reasons:

Korea's tax authorities said yesterday they have expanded their investigation into possible breaches of local tax regulations by foreign financial companies...Despite huge profits, some foreign companies have paid less taxes by imposing excessive operating costs on their local branches," the agency said in a press release.

So let me get this straight, in one of the most expensive places in the world for a foreigner to do business, known for a complicated costly distribution system, known for excessive red tape, and anecdotally known for overcharging foreigners the National Tax Service is surprised to find companies with high operating costs?

Dram Man

Tuesday, January 24, 2006

Tax Service to Forgeiners "Give Us More, You Spend Too Much"

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