Daesung Demanded To Pay An Extra 1.2 Billion Won In Tax For His Controversial Building

Daesung is facing hefty tax and loans.

New reports claimed that BIGBANG‘s Daesung was demanded to buy an extra 1.2 billion won (~$1 million USD) by the Korean National Tax Service. Daesung’s building is currently being investigated by the police as it was discovered to house illegal nightlife entertainment, including prostitution.

The tax agency sent a bill to Daesung requiring him to pay an extra tax on his building totaling 1.2 billion won. 1 billion won was charged for property tax, the highest amount that can be charged. The addition 200 million won came from acquisition tax, also the maximum amount possible.

The tax agency explained that the illegal establishments were listed as regular restaurants despite their actual businesses therefore did not pay the proper amount of tax since 2017.

 

Although Daesung claimed that he was unaware of the illegal activities that happened in his building, the tax agency clarified that the additional billed tax did not correlate with whether he knew of the crimes or not.

It was also reported that Daesung took out a loan for over 5 billion won (~$4.3 million USD) with his building as collateral from a loan agency. Reports explained that Daesung purchased the building for 31 billion won (~$26 million USD) and took out a loan from the bank to pay for the building. However, when his building wouldn’t sell he took out a 5 billion won loan from a private loan company to pay off his bank loan that was expiring soon.

All of the establishments that were accused of illegal activities have shut down and the areas have been striped for remodeling.

Source: Hankook Ilbo
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