The National Tax Service is expected to impose a fine of 70 billion won on Lee Myung-hee, chairman of Shinsegae Group. The tax agency is also predicted to impose a total of 200 billion won on the group including Lee’s fine.
The NTS carried out a special tax investigation on the group's key affiliates including E-Mart and Shinsegae Construction from May.
According to industry watchers, the NTS completed tax investigation on the group in terms of shifting into real-name stocks of borrowed-name stocks.
Earlier, the group made public that it shifted 379,000 borrowed-name stocks into real-name stocks of Lee Myung-hee. That includes 250,000 stocks of E-Mart, 91,000 share of Shinsegae and 29,000 stocks of Shinsegae Food.
Lee is reportedly holding her stocks under employee's names to diversify her assets. The NTS did not charge her with a crime, viewing that title trust is not tax evasion.
