National Tax Service launches a tax investigation on Hyundai Motor
National Tax Service launches a tax investigation on Hyundai Motor
  • Jung Se-jin
  • 승인 2018.06.12 16:20
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The Sunday newspaper reported on Jun 11 that the National Tax Service (NTS) has launched a tax investigation on Hyundai Motor. 

The NTS has recently launched a tax investigation into the headquarters of Hyundai Motor Group following Kia Motors. The tax investigation for this time is a regular tax investigation.

However, analysts in the auto industry say that the NTS is strongly checking the flow of funds, considering Hyundai Motor Group is in the process of transforming into a holding company. 

The NTS has been conducting tax audits on Kia Motors and Hyundai Glovis since early this year.

A source at the NTS said, "Hyundai Motor Group's affiliates have not had proper audits since 2013." "As Hyundai Motor Group is also involved in the transfer of managerial control, we are conducting a tax investigation. "

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