South Korea will force Apple, Amazon and Google to pay taxes
03.08.2018 Erika J. Wells 0 Comments
Local South Korean companies, including Samsung and LG, unhappy that major technology companies such as Apple, Amazon and Google do not pay taxes. The South Korean government promised to fix it, writes the Korea Times.
The South Korean company against the fact that global technology companies pay little tax or not subject to taxation, though, and earn the country billions of dollars. They claim that it creates “reverse discrimination” against local brands.
Under current South Korean law, the government cannot collect taxes from global companies, because they are not required to disclose their profits. The law provides that the company must pay taxes only when they have permanent offices in Korea, and large companies place their offices in the USA, China and Ireland.
Local company for many years urged the government to impose taxes on sales to foreign companies. Criticism came to fruition — the South Korean government is already developing a law that will oblige large companies to pay taxes.
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