NTS launches special tax audit on DSME

[THE INVESTOR]  The National Tax Service on Oct. 20 launched a special audit on troubled shipbuilder Daewoo Shipbuilding and Marine Engineering.

According to DSME, NTS investigators secured finance and accounting-related information from the company’s office in Seoul.

The NTS department involved in the audit is known to specialize in special cases, prompting pundits to speculate that it may be related to DSME’s accounting fraud. 

DSME had initially posted profits in 2013 and 2014, but later corrected it to large losses, and filed a tax refund claim for 230 billion won (US$ 204.08 million).

By Choi He-suk (cheesuk@heraldcorp.com)