Tax Authority Concludes No Tax Evasion by Kakao Founder: Yonhap

South Korea’s National Tax Service concludes Kakao founder Brian Kim paid tax “normally,” dismissing allegations that Kim evaded paying ~886.3b won in taxes, Yonhap News reports, citing sources.

• A civic group reported Kim to the tax authority last year, accusing him of manipulating accounts to evade capital-gains taxes from the merger of Kakao and portal site Daum in 2014
  • The civic group separately filed a complaint with police, claiming tax authority delayed investigation
• Seoul Regional Office of NTS recently notified the civic group that “these contents were normally reflected in tax payments” but declined to give details due to confidentiality ...