Coupang Challenges Tax Agency's $300 Million Assessment

쿠팡의 모회사 쿠팡Inc가 국세청으로부터 약 3000억원 규모의 과세 예고 통지를 받고 불복 절차에 나선다.

Coupang Inc. announced on August 5 that it is contesting a tax assessment of approximately 300 billion won (about $280 million) from the National Tax Service (NTS). The company disclosed in its second-quarter earnings report submitted to the U.S. Securities and Exchange Commission (SEC) that the NTS completed a tax audit of its South Korean subsidiaries in June and communicated the findings. The audit focused on corporate income tax and value-added tax for the tax years 2021 to 2025. The NTS's assessment includes additional tax payments, penalties, and interest.

Coupang Inc. stated, "The notice primarily focuses on transfer pricing and transactions between our South Korean subsidiary, Coupang Corp., and Coupang Fulfillment Services (CFS). We have filed consolidated corporate income tax returns in South Korea, but the notice indicates that the NTS will not allow the tax treatment of corporate income tax expenses related to services provided by CFS to Coupang Corp., along with other tax adjustments."

In response, Coupang Inc. plans to pursue administrative remedies and may file a lawsuit if necessary. The company emphasized, "We will actively uphold our position through all available appeal procedures." The NTS reportedly initiated the tax audit shortly after the data breach incident at Coupang in late December last year and has recently concluded its investigation.

Additionally, losses from a fire at the Incheon logistics center are expected to be reflected in the company's third-quarter results. Coupang Inc. is currently assessing the extent of the losses, estimating that they could reach approximately 350 billion won (about $246 million), including the value of its own inventory, fixed assets, and obligations for seller inventory stored at the facility before the fire. The company plans to file insurance claims under property and liability insurance.

Meanwhile, Coupang Inc.'s operating loss for the second quarter was reported at 835 billion won (about $556 million), a shift from an operating profit of $14.9 million during the same period last year. Revenue for the quarter was 13.3 trillion won (about $8.86 billion), reflecting a 4% increase compared to the previous year.