Starbucks Under Investigation in South Korea for Tax Evasion

The Moon administration needs money for all their lofty plans for North Korea, so this should be a warning to all international corporations operating in South Korea that the taxman is coming:

Starbucks Korea is being investigated over allegations of tax evasion, mostly via overpricing goods and services imported from its head office in the U.S., according to industry and tax administration sources, Thursday.

Officials from the National Tax Service (NTS) Seoul Office’s international trade investigation department have seized accounting records and data preserved online at the global coffee giant’s office in the capital, following multiple searches that began in mid-May.  

The Korean office allegedly sought to inflate the cost of raw materials such as coffee beans and others products for sale or needed for maintenance at its over 1,370 branches here, in what is widely known as “transfer pricing.”

Korea Times

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