Tax Investigation of Major Corporate GA Amidst Allegations of Tax Evasion
On September 23, 2024, the National Tax Service (NTS) initiated urgent tax investigations into two major corporate insurance agencies (GA) in South Korea. On September 23, 2024, the National Tax Service (NTS) initiated urgent tax investigations into two major corporate insurance agencies (GA) in South Korea. The investigations are reportedly driven by allegations of tax evasion, with significant personnel from the NTS’s Investigation Bureau 4 involved. This sudden action has created a tense atmosphere within the GA industry, raising concerns over internal whistleblowing and compliance issues. On the afternoon of September 23, the National Tax Service (NTS) dispatched approximately 20 investigators to two prominent corporate insurance agencies, referred to as Company A and Company B. The involvement of the Investigation Bureau 4 indicates that serious tax evasion allegations are under scrutiny, causing considerable unease in the GA sector. According to reports from the insurance and GA ...