Korean tax authorities investigates Starbucks’ pricing of coffee beans

Starbucks Korea is now being investigated for overpricing goods and services imported from abroad.

Officials from the National Tax Service have seized accounting records and data held at Starbucks’ Korean head office in Seoul.

Subject of the investigation is transfer pricing of coffee beans and others products for sale at its more than 1,370 local shops.

In 2019 Starbucks Korea reported sales of over 1.87 trillion won ($1.53 billion) and net profits of 132.8 billion won.

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