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Google, Apple, other foreign tech firms in S. Korea log ₩4 trillion in sales
Sales in South Korea of foreign tech giants, including Google and Apple, reached 3.98 trillion won in 2021, increasing 6.5 times from 612.1 billion won in 2016.
According to the data from the National Tax Service (NTS), Google, Apple, and other tech titans took up the bulk of sales of 209 foreign tech companies that filed corporate tax returns in 2021.
There were 66 foreign electronic service firms that filed corporate tax returns five years earlier.
The top 10 foreign tech firms reported taxable income totaled roughly 3.71 trillion won last year, or 93.1 percent of the aggregate.
Those foreign electronic service corporations pay only 10 percent value-added tax in South Korea since they have no fixed places of business.