NTS raids LG Hausys, LG Chem in tax probes
Tax investigators on Tuesday raided LG Hausys in part of what could be a group-wide tax audit on LG.
In an unprecedented move, National Tax Service officials entered the headquarters of LG Hausys, LG Group’s subsidiary specializing in construction materials, according to sources.
The surprise investigation was known to have been made at the same time as an LG Chem raid around 10:30 a.m., when the NTS officials rushed into the chemical company’s headquarters to seize account books and related documents.
“We have been expecting the tax investigation to be in the fifth year of the company’s establishment. This is our fifth year, and we assume this is part of a regular inspection,” a public relations official from LG Hausys told The Korea Herald.
In 2009, LG Hausys split from the industrial materials division of LG Chem.
LG Chem, meanwhile, said it is subject to a tax probe every four years. The previous tax investigation into LG Chem occurred in July 2010.
By Suk Gee-hyun