Bashar al-Assad Sentenced to Death by Syrian Court 
SEC Sues Former Tricolor Executives Over $1.9 Billion Investor Fraud Scheme 
California Seeks Paramount Divestitures in Warner Bros. Merger 
Central Banks Could Buy 20,000 Tonnes of Gold: BofA 
Gold Prices Steady as Oil Disruptions Boost Fed Rate Hike Bets 
UN Chief Raises Concern Over US Sanctions on ICC Officials 
Judge Rejects Minnesota Bid to Force ICE Agent Extradition 
Judge Blocks Trump Rule Limiting Foreign Student Visas 
OpenAI Rejects Apple Trade Secret Theft Claims 
US Weighs New Sanctions Against Brazil Supreme Court Justice Alexandre de Moraes 
Asian Bank Stocks Slide as BofA Warning and Rising Yields Hit Sentiment 
Brazil Court Suspends Sigma Lithium Mine Operations 
UK Wage Growth Slows as BoE Rate Decision Looms 
Gold Prices Fall as Hot U.S. Inflation Boosts Fed Rate Hike Bets 
Hormuz Vessel Traffic Drops to Single Digits 
Amazon Shares Fall as FTC Plans Ad Pricing Lawsuit 
Add as a preferred source on Google
A lawmaker accused Netflix Services Korea Ltd. of evading taxation in South Korea by turning over most of its revenues to overseas headquarters as a "commission."
According to independent lawmaker Yang Jung-suk, the South Korean unit of global video streaming giant Netflix Inc. has raised the cost of goods sold and lowered its operating profits by paying 320.4 billion won or 77 percent of South Korean sales to its overseas headquarters.
Consequently, the managed to reduce the corporate taxes it paid to some 2.1 billion won last year.
The percentage of goods sold in South Korea was 61 percent for Netflix Inc. and 81 percent for Netflix Services Korea, revealing a 20 percentage point difference.
Meanwhile, Netflix Inc. posted an operating profit margin of 18 percent compared to Netflix Services Korea's 2 percent.
Netflix Services Korea is capable of "engineering" its operating profits by setting the cost of goods sold via an agreement with Netflix Inc.
The National Tax Service began an eight-month investigation of Netflix Services Korea in August of last year, which ended up taxing the company 80 billion won.
