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Cha Eun Woo\u2018s one-person agency recently bought land worth about 2.85 billion won ($2 million) in Ganghwa County amid ongoing claims of tax evasion amounting to 20 billion won ($13 million).<\/p>\n
Open the Youtube video<\/p>\n
On March 8th, MBC\u2019s investigative program Exploration Planning Straight<\/em> reported on Cha Eun Woo, who is accused of evading 20 billion won in taxes through his one-person agency.<\/p>\n Lawyer Kim Myung Gyu said, \u201cWe can assume the National Tax Service has already found major issues. This shows it\u2019s not just a mistake, but active tax evasion.\u201d<\/p>\n Cha Eun Woo has been ordered by the National Tax Service to pay about 20 billion won in back taxes, the largest amount ever for a celebrity. The NTS found that Cha had avoided income tax by using a company registered under his mother\u2019s name.<\/p>\n Cha Eun Woo, who is currently serving in the military, addressed the issue on social media, saying, \u201cI sincerely apologize for causing concern and disappointment. This has made me reflect on my responsibilities as a citizen of Korea, and I am deeply sorry.\u201d<\/p>\n However, he disagreed with the NTS\u2019s decision and hired a law firm to request a review of the case. He is currently waiting for the results.<\/p>\n Exploration Planning Straight<\/em>\u2018s team visited a grilled eel restaurant in Incheon, where Cha\u2019s one-person agency is based. A nearby resident said, \u201cThey had a big sign saying it\u2019s a restaurant often visited by celebrities. It was demolished for remodeling about six months ago,\u201d and mentioned that there were no signs of an entertainment agency.<\/p>\n Cha\u2019s Gallery, the company Cha Eun Woo set up in 2019, is a family-run business. His mother is the CEO, with Cha and his sibling as directors, and his father as the auditor.<\/p>\n For highly-paid celebrities, paying income through their agency leads to a higher tax rate of up to 49.5%, including local taxes. However, using a one-person company lowers the tax rate to around 27.5%, depending on profits.<\/p>\n Exploration Planning Straight<\/em> reported, \u201cCha Eun Woo\u2019s income is estimated in the tens of billions of won. A tax rate reduction of more than 20 percentage points could save him tens of billions of won in taxes every year.\u201d They also added, \u201cThe tax burden could be further reduced by saving profits in the company or using them as business expenses or salaries for family members registered as employees.\u201d<\/p>\n The program also pointed out that while using a one-person company to settle income isn\u2019t illegal, if the company isn\u2019t actually engaged in entertainment management work, it could be seen as a way to avoid higher taxes.<\/p>\n Exploration Planning Straight<\/em> also reported, \u201cIn July 2020, Cha\u2019s company bought a building with a grilled eel restaurant, its land, and nearby woodland. The total area was 14,973 square meters (about 4,500 pyeong), and it cost 1.75 billion won ($1.2 million), with 800 million won ($535,260) financed by a loan under the company\u2019s name.\u201d<\/p>\n They added, \u201cIn February, the company bought more land (2,069 square meters, about 1,230 pyeong) right in front of the restaurant for 1.1 billion won ($736,000). Despite buying land the size of three soccer fields, it\u2019s unclear what business activities are taking place at the site.\u201d<\/p>\n Cha\u2019s Gallery later changed its name and became a limited liability company. Exploration Planning Straight<\/em> explained, \u201cUnlike a stock corporation, limited liability companies don\u2019t have to disclose or audit their finances, making it hard to know if more real estate was purchased or if expenses were properly reported.\u201d<\/p>\n Open the Youtube video<\/p>\n Cha Eun Woo\u2019s agency, Fantagio, said, \u201cCha\u2019s mother has been handling management duties and supporting his entertainment activities.\u201d They added, \u201cWe are taking the necessary steps to receive a fair judgment based on supporting documents.\u201d<\/p>\n >> Cha Eun Woo\u2019s \u2018The WONDERfools\u2019 Set for May Release on Netflix Despite Tax Controversy<\/p>\n In the meantime, watch trending K-dramas for free on Amasian TV.<\/p>\n Source (1)<\/p>\n The post Cha Eun Woo\u2019s Agency Spends $2 Million on Massive 4.6-Acre Plot on Ganghwa Island appeared first on Premier Korean Entertainment Magazine.<\/p>\n \u30fbHa Jung Woo Sparks Marriage Buzz With Cha Jung Won After Listing Two Buildings for Sale<\/p>\n \u30fbCha Eun Woo-Linked Company Moves Address to Gangnam on Day of Government Inspection<\/p>\n \u30fbFantagio Issues Second Statement on Cha Eun Woo\u2019s $13.6 Million Tax Scandal<\/p>\n \u30fbU-KISS\u2019a Dongho and Ex-Wife Trade Blame in Explosive Social Media Feud<\/p>\n \u30fbCha Eun Woo Tax Scandal Sparks Backlash After Arden Cho Publicly Shows Support<\/p>\n","protected":false},"excerpt":{"rendered":" Cha Eun Woo\u2018s one-person agency recently bought land worth about 2.85 billion won ($2 million) in Ganghwa County amid ongoing claims of tax evasion amounting to 20 billion […]<\/p>\n","protected":false},"author":1,"featured_media":1364,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment"],"_links":{"self":[{"href":"https:\/\/parkmania.pl\/index.php?rest_route=\/wp\/v2\/posts\/1363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/parkmania.pl\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/parkmania.pl\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/parkmania.pl\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/parkmania.pl\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1363"}],"version-history":[{"count":0,"href":"https:\/\/parkmania.pl\/index.php?rest_route=\/wp\/v2\/posts\/1363\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/parkmania.pl\/index.php?rest_route=\/wp\/v2\/media\/1364"}],"wp:attachment":[{"href":"https:\/\/parkmania.pl\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/parkmania.pl\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/parkmania.pl\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Trending Now<\/h2>\n