Google Korea pays $12.2 million in corporate taxes in 2024: lawmaker

Google Korea, the local unit of U.S. tech giant Google, paid 17.2 billion won ($12.2 million) in corporate taxes last year, a lawmaker said Wednesday, adding the amount represents only a fraction of what South Korean firms would have had to pay. "Google Korea paid 17.2 billion won in corporate taxes last year, although it should have paid 676.2 billion won," said Rep. Choi Soo-jin of the People Power Party, citing figures based on the company's estimated sales. She referred to a report by professor Jeon Seong-min of Gachon University, which estimated that Google Korea's revenue in 2024 could have reached up to 11.3 trillion won. Applying Korean internet giant Naver Corp.'s corporate tax-to-revenue ratio of 5.9 percent, Choi argued that Google Korea's tax liability should have been 676.2 billion won. As of last year, Google Korea accounted for 31.2 percent of the country's data traffic, compared with Naver's 4.9 percent. However, Google Korea reported just 386.9 billion won in revenue, while Naver posted 10.7 trillion won in sales, Choi said. Naver paid 390.2 billion won in corporate taxesWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times