Samsung Pays No Corporate Tax for First Time in 52 Years: Chosun

Samsung Electronics paid no corporate taxes this year due to operating losses last year, Chosun Ilbo newspaper reports, citing sources.

• This marks the first time in 52 years that Samsung didn’t pay corporate tax
• Samsung’s consolidated operating profit, including its subsidiaries, was ~6.6t won last year; but Samsung posted ~11.5t won of operating loss on a separate basis, excluding overseas subsidiaries and affiliates that pay taxes abroad
• South Korea’s overall corporate tax revenue is expected to be lower this year than in previous years as historically top taxpayer Samsung didn’t make payment

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