The Famous Millionaire Chapter 293

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Chapter 293: Chapter 287

Hwasik said, “As a result of the amendment of the VAT Act and its enforcement decree, they don't issue the revised import tax invoice if the importer fails to prove that there was no fault on his side. This is the case for us. We can't get the refund of VAT as the tax adjustment of our case has been made by a customs investigation.”

Sonjong was shocked to hear that. There was no way to receive the refund of 600 million won.

Advisor Hwasik let out a sigh and said, “It's my mistake. I should have found it out, but didn't. My mistake.”

“No, it's mine. I took the matter too lightly,” said Sonjong.

Both of them blamed themselves.

But that was something they could do later. They had to report it to Hyunwoo first.

Songjong, bearing the brunt of the criticism, went to Hyunwoo's office.

“Hyunwoo, the tax audit team pointed out some problems. As we dropped EBS from our taxable duties, I'm afraid we owe 700 million won.”

“EBS? What is that?”

Songjong explained about it briefly.

Though Hyunwoo studied customs law a bit, EBS was too difficult a term for him to understand.

Come to think of it, Hyunwoo felt the tax investigation this time was good for his companies in the sense that his employees could work in a more tense environment.

But Sonjong seemed to feel an excessive sense of shame.

Hyunwoo felt she needed encouragement, not reproaching at this point.

With a benevolent smile, Hyunwoo said to her, “We have no other choice this time. Don't be too depressed. You didn't incur it intentionally.”

“I'm so sorry.”

“That's enough. You can do it better next time. Just go back to work.”

Hyunwoo didn't take it too seriously.

After coming out of his office, Sonjong let out a sigh. She felt so thankful to him for encouraging her instead of reproaching her.

Advisor Hwasik was also touched by Hyunwoo's act.

“Now I know he's such a generous man. In fact, 700 million won is nothing to him anyway.”

The corporate tax audit on Hyunwoo's companies was over. It took 15 days for them to finish the whole investigation. They tried to find other tax issues in vain.

Sonjong also let out a sigh of relief. She felt there would be no more issues related to the corporate tax audit.

But at the last minute, the chief of the audit team began to treat Sonjong as much of a criminal.

“You did this intentionally, right?” he asked.

With her eyes opened wider with surprise, Sonjong asked,

“What the h.e.l.l are you talking about? How would I did it intentionally?”

“How many years has KOVE DREAM been bypa.s.sing the licensed customs agent to process the imports? Besides, you are from the customs office and advisor Hwasik Kang was a former customs official. With such a background, it's not possible you didn't know about EBS. In other words, you've been doing this knowingly?”

“No, it doesn't make any sense. I really didn't know what EBS was. Advisor Kang also told me he didn't know it.”

“I just don't understand you folks didn't know EBS at all. According to clause 2 of 42nd Article of Customs Law, we'll impose 40% additional tax on KOVE DREAM.”

“No way!” Sonjong protested.

Advisor Kang also dissented, “Don't you think you're making an unreasonable demand?”

But the chief of the tax audit team was adamant. Regardless of their protests, he concluded KOVE intentionally dropped EBS and imposed 40% additional tax.

The final amount of taxes on KOVE now reached 870 million won, an increase of 180 million won from the initial penalty.

When they were feeling chagrined at such a whopping tax, Hyunwoo came into the office.

Hyunwoo knew something about the customs law. Though he didn't know in detail, he was aware of the additional tax.

Naturally, he also took issue with the tax audit team's decision.

“I have no idea why would have intentionally dropped EBS. I really can't understand their decision.”

Hyunwoo asked advisor Kang about it. Of course, he didn't ask to blame Kang.

“Well, I smell a rat.”

Hyunwoo also smelled a rat. But he couldn't believe that might be the reason.

“What is it?”

Kang cautiously mentioned about it.

“It's just my pure speculation, but it looks like some higher-ups put pressure on the Director of National Customs Office.”

Actually, that's what Hyunwoo guessed.

“So, what are they going to do about us? Even if they impose more additional taxes, KOVE won't be affected at all…” said Hyunwoo.

“No, if they do it, it is a different story,” said Kang in a confident voice.

Hyunwoo's heart sank at his remarks. He instantly felt this was not just a matter of tax.

Suddenly, he recalled what the chief of the tax audit team said, “You did it knowingly, didn't you?”

In other words, what he was trying to say that KOVE did it intentionally.

If that was his judgment, the thing was the current tax issue could tarnish KOVE's image. In other words, KOVE evaded taxes to save some pennies.

Of course, most people wouldn't believe that. Given Hyunwoo's recent pledge to donate money to society, it just didn't make any sense that he deceived the tax office to save some money.

But there might be someone who thought differently. It was only recently that Hyunwoo became the talk of the town for his contribution to society. They might think as soon as he became the richest man in the world, he decided to donate.

Thinking of that, Hyunwoo shook his head and said, “No, I don't believe it! I didn't earn anybody's grudge. Why are they trying to go after me?”

Hyunwoo's concern was not groundless.

The next day all the media began to ma.s.sively report about KOVE DREAM's tax evasion.

According to the reports Hyunwoo was treated like a criminal because he was imposed less than one billion won in additional tax.

As if the reporters saw eye to with politicians, they portrayed KOVE DREAM negatively.

In particular, national TV networks reported about not only KOVE's tax problem but also groundless allegations about Hyunwoo's father Duyoung and mother Jisook. According to some reports, the ‘faceless angel' campaign led by Jisook was an unprecedented fraud scheme to promote her workplace, and the quality of Duyoung's Super Green had not yet been proven.

Even the KOVE reports by Korean Broadcasting, where Jaeyol Song, a longtime friend of Hyunwoo's, was the deputy director of its newsroom, were negative.

Jaeyol called Hyunwoo as if he was sorry.

“Hey, brother, I'm sorry. Looks like a big shot directly pressured our president. A mid-ranking manager like me can't do anything about it.”

Hyunwoo understood Jaeyol's position. In a situation such as this, it was unreasonable for Hyuwnoo to ask him to stop the KOVE reports out of ‘loyalty' to him.

As long as he was honorable, Hyunwoo didn't need to fear.

Advisor Kang proposed filing a lawsuit against the tax audit team's decision.

“If we sue, we can win unconditionally. Just go ahead with the request for the trial.”

“Why did the National Customs Office make the decision when they knew we could sue?” asked Hyunwoo.

“Because they would have nothing to lose. Even if they lose the suit, they could still impose the original 10% additional tax.”

If that was true, their purpose was clear. It was to degrade the image of KOVE DREAM by inviting heavy media coverage of its alleged tax evasion.

Even if KOVE sues, it would take a very long time to win the suit. Who was going to make up for the lost credit and reputation of KOVE?

That might be what someone in an influential position is seeking at the moment. Hyunwoo figured out who that person was. He was congressman Kilpyo Chung, who blatantly asked him for political funds.

Kilpyo was one of those lawmakers who followed Jungmin Hw.a.n.g, a big shot in the ruling party. Then it would most likely be Hw.a.n.g who orchestrated all this scheme behind the scene.

Hyunwoo didn't want to live disgraced. He decided that he could not sit idle. Unless Hyunwoo met the demands of Hw.a.n.g, he would have no other choice but to succ.u.mb to Hw.a.n.g endlessly.

And other companies would be in the same boat as him.

‘What should I do? How can I expel such corrupt politicians?'

It was a difficult problem, but he wanted to solve it.

If he could have his way, Hyunwoo could use his formidable wealth of 100 trillion won for this cause.

I've got to find the right way.

Suddenly, he thought of lawmakers Chulwoo Chung and Jungsang Kim, who had const.i.tuencies in Sosan and Taean, respectively.

When Hyunwoo was searching for the site candidates for Haenim School, they tried to invite it to their const.i.tuency. When he met them, he came home with the good impression that they were clean politicians with integrity.

Mr. Chung was an opposition lawmaker while Mr. Kim was a ruling party lawmaker.

But that didn't matter.

Actually, they were close to each other regardless of their political line.

Sure, let me consult with them. They might help me find the right method.

Hyunwoo contacted Mr. Chung first because he felt much more comfortable about talking to him.

As soon as he picked up the phone, Mr. Chung sincerely listened to Hyunwoo.

Actually, Mr. Chung was stamping his feet nervously when he read a series of negative reports about KOVE DREAM.

“What happened?” asked Mr. Kim, trying to comfort Hyunwoo.

Scratching his head, Hyunwoo said, “Well, I think I made a big mistake.”

Shaking his head, though, Chung said, “No, I don't think so. I know you more than anybody. I know you never evaded tax on purpose.”

“Thanks for saying that. Facts are facts, as you know. If I didn't make the mistake, they wouldn't have any reason to drive me into a corner like this,” said Hyunwoo, as if to repent himself.

But Mr. Chung said with a poker face, “If we have to judge what's right and wrong, we have to point out the problems of our misguided politics first. In particular, Mr. Chulmo Kim and Jungmin Hw.a.n.g…Ooops!”

As if he was surprised about what he just said, Chung quickly closed his lips. He should have not mentioned the big shots, but he did out of anger before he knew.

The Famous Millionaire Chapter 293

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The Famous Millionaire Chapter 293 summary

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