It is reported that the National Tax Service has begun a tax investigation targeting Affinity Equity Partners.
On the 10th, according to the investment banking (IB) industry, the Seoul Regional Tax Service recently started a tax investigation into Affinity. It was reported that the previous day, a document retention investigation was conducted at their office in Jongno-gu, Seoul.
The National Tax Service's initiation of the tax investigation against Affinity is the first in 10 years since 2015. Affinity paid a tax of 400 billion won on a capital gain of $4 billion from the sale of OB, which was deemed insufficient, prompting the tax investigation.
The National Tax Service is expected to examine whether Affinity has appropriately reported and paid taxes related to past investments and recoveries through this tax investigation.
Meanwhile, the National Tax Service has continued intense monitoring of private equity firms. Last month, MBK Partners, the majority shareholder of Homeplus, underwent a tax investigation.
A representative from Affinity stated regarding the current tax investigation, "We cannot confirm this."