Connect to share and comment

GM Korea-tax probe

PlacardEnlarge
(Globalpost/GlobalPost)

SEOUL, March 13 (Yonhap) -- South Korea's tax agency has launched an investigation into GM Korea Co., the local unit of U.S. General Motors Co., a company official said Wednesday.

The GM Korea official claimed the probe by the National Tax Service (NTS) is a regular one following a similar investigation in 2008.

"We will cooperate with the tax probe in good faith," the official, noting that there were no unfair business practices and the tax agency imposed no additional taxes on GM Korea after the 2008 investigation.

The tax agency began the probe last month, and it will last until August, the GM Korea official said. He asked not to be identified, citing policy.

An NTS official handling the tax probe of GM Korea declined to confirm whether his agency launched the investigation because he was not authorized to speak to the media.

All rights reserved by Yonhap News Agency

http://www.globalpost.com/dispatch/taxonomy/term/39093/130312/gm-korea-tax-probe