Wednesday, May 31, 2006

Tax: Starbucks face South Korean tax audit

South Korean newspapers are reporting that The South Korean tax office has launched an audit of Starbucks Corp.'s joint venture in the country.

Described as a regular audit, it is the first such audit by the National Tax Service of the venture with South Korean retail chain operator Shinsegae Co. since the venture was set up in 1997.

Reuters reports, "officials from the venture were not immediately available while a National Tax Service official declined to comment."