All material subject to strictly enforced copyright laws. © 2022 ITR is part of the Euromoney Institutional Investor PLC group.

Learning from Lone Star: What the company’s second win in Korean court can teach MNCs

December 10, 2014
Share
South Korea flag

Lone Star emerged as a winner for the second time in a case against the Korean tax authorities in the Seoul district court in late November. The court ruled that the Namdaemun District tax office owes the American-owned private equity firm $159 million (177.2 billion won) of previously collected capital gains tax on the company’s sale of its 51% stake in Korea Exchange Bank (KEB) in 2011.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login

Tags

NewsDirect TaxSouth KoreaTax DisputesAsia Pacific

More from across our site

LONDON, UK - January 24th 2019: HMRC, Her Majesty's Revenue and
HMRC reports £32bn tax gap for FY 2020-21
But experts cast doubt on HMRC's data and believe COVID-19 would have increased the revenue shortfall.
Leanna Reeves, June 27, 2022
Warsaw/Poland, April 8, 2018: View on EY (formerly Ernst&Young) logo on headquarters
EY’s ‘Project Everest’ could boost business but not the brand
EY’s plan to separate its auditing and consulting businesses might lessen scrutiny from global regulators, but the brand identity could suffer, say sources.
Danish Mehboob, June 27, 2022
Row of microphones, flags, papers and other on long table in conference hall
Businesses call on G7 leaders for meaningful carbon taxes
Multinationals are asking world leaders to put a scale on carbon pricing to tackle climate change at the 48th G7 summit in Germany, from June 26 to 28.
Danish Mehboob, June 27, 2022
Budapest city skyline at Hungalian Parliament and Danube River,
Hungary rejects plan for 15% corporation tax rate
The state secretary told the French press that the country continues to oppose pillar two’s global minimum tax rate following an Ecofin meeting last week.
Leanna Reeves, June 24, 2022
erik-mclean-gas-tax.jpg
This week in tax: Biden’s energy tax holiday runs out of gas?
This week the Biden administration has run into opposition over a proposal for a federal gas tax holiday, while the European Parliament has approved a plan for an EU carbon border mechanism.
Josh White, June 24, 2022
lmg-wibl-awards-for-dat-600x400-emea.png
Women in Business Law Awards EMEA 2022: winners revealed
12th annual awards announce winners
John Harrison, June 24, 2022
turag-microsoft-tax-2000.jpg
Microsoft makes the case for better tax data management
Businesses need to improve on data management to ensure tax departments become much more integrated, according to Microsoft’s chief digital officer at a KPMG event.
Josh White, June 23, 2022
MicrosoftTeams-image.png
Companies must prepare for TP risks as US Libor deadline looms
Businesses must ensure any alternative benchmark rate is included in their TP studies and approved by tax authorities, as Libor for the US ends in exactly a year.
Leanna Reeves, June 23, 2022
Businesses left vulnerlable_VAT planning.jpg
Businesses left vulnerable by lack of strong VAT planning
Tax directors warn that a lack of adequate planning for VAT rule changes could leave businesses exposed to regulatory errors and costly fines.
Siqalane Taho, June 22, 2022
Pause NI supply chain changes - 1.jpg
Companies urged to pause Northern Ireland supply chain changes
Tax professionals have urged suppliers of goods from Great Britain to Northern Ireland to pause any plans to restructure their supply chains following the NI Protocol Bill.
Siqalane Taho, June 22, 2022
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree