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Do Kwon, CEO of Terraform Labs, said today on Twitter (the social network is blocked in the territory of the Russian Federation, belongs to the company Meta – the company is recognized as extremist in the territory of the Russian Federation) that, contrary to reports, his company has no tax obligations in South Korea.
Terraform Labs This is the main development team working on the Terra blockchain, whose native assets, the stablecoin LUNA and UST, recently collapsed after a banking flight wiped out billions of dollars.
A recent media report suggested that The Korean authorities are investigating the activities of Do Kwon and Terraform Labs in connection with the non-payment of corporate taxes worth more than $ 78 million. Asked on Twitter by FatMan, an anonymous analyst and commentator for Terra, about the accuracy of the reports, Kwon responded.
“We have no outstanding tax liabilities in Korea,” he said, adding that the company had already paid its contributions in full after the tax audit.
“We are happy to participate in any legal process or regulatory investigation to the best of our ability — we have nothing to hide,” Kwon added.
Aside from his comment on the company’s tax status, Kwon said that from December 2021, his exact location is Singapore.
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