Taxman gives SK Shipping an extra $3.7m bill

Taxman gives SK Shipping an extra $3.7m bill

South Korea’s National Tax Service has hit SK Shipping and its Singapore-based subsidiary for an extra tax bill worth KRW42bn ($3.73m) following an audit covering the years 2010 to 2014.

The tax inspectors said SK Shipping’s decision to transfer bunkering options to its Singapore subsidiary had been undervalued. SK Shipping has been under a tax investigation since February.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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