June 05, 2020 08:43
Starbucks Korea is being investigated over suspected offshore tax evasion by the National Tax Service.
According to industry insiders Wednesday, the NTS has been conducting special audit of the coffee franchise since last month.
The company allegedly sought to evade taxes by manipulating the price of the goods and services it imported from its parent company in the U.S.
It is directly managed by headquarters and has been importing goods, including coffee beans and store furniture from America.
Starbucks generated sales of W1.87 trillion and a net profit of W132.8 billion last year (US$1=W1,220).
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