Samsung spent $13.6bn on taxes globally in 2017
Seoul, June 18 : South Korean tech giant Samsung Electronics spent $13.6 billion (15 trillion won) to pay taxes around the globe in 2017 -- a 70 per cent increase from a year earlier, the company's business report showed on Monday.
The record-breaking amount posted last year nearly doubled from 7.8 trillion won posted in 2015, Yonhap news agency reported.
Samsung Electronics said the South Korean government accounted for 81 per cent of the amount posted last year, with other Asian countries accounting for 10 per cent.
The tech giant posted 239.6 trillion won in sales in 2017, up 18.6 per cent on-year. Its operating profit shot up 83.6 per cent over the cited period to 53.6 trillion won.
South Korea took up 13 per cent of the sales posted in 2017, followed by North and South America with 34 per cent.
Europe and the Commonwealth of Independent States accounted for 19 per cent and China held 16 per cent.
Industry watchers said while Samsung Electronics had most of its sales overseas, it is still paying most of its taxes in South Korea as it is headquartered here.
The company spent 385.6 billion won for charity projects around the world in 2017, providing support to some five million beneficiaries, the report added.
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Inappropriate for MLAs seeking free IPL tickets, says D.K. Suresh
Bengaluru: Bengaluru Milk Union Ltd President D.K. Suresh on Monday said it is inappropriate for MLAs to seek free IPL tickets, adding that those interested in watching matches should pay for them personally.
Speaking to reporters near his residence in Sadashivanagar, he said, “IPL is a commercial tournament and does not represent the country. It is not right for public representatives to focus too much on such matters.”
Referring to the recent controversy during the RCB celebrations, he said, “let us find out who benefited the most from the statements made during the incident.” He also pointed out that BJP MLAs had received IPL tickets as well.
Responding to discussions about relocating the Chinnaswamy Stadium, Suresh said the government has already approved the construction of a new stadium at a location he had proposed.
“I had suggested building a stadium in Surya City and submitted a proposal for it. Bengaluru needs four stadiums in four directions to cater to its growing population and encourage youth participation in sports,” he said.
He noted that apart from Kanteerava Stadium, KSCA, and the Football Stadium, there are limited facilities in the city.
“When I was a Lok Sabha member, I had proposed allocating 100 acres in my constituency at Surya City. The land was later earmarked and the plan approved,” he added.
Suresh said he has discussed the project with Minister Zameer Ahmed Khan, Rajiv Gandhi Housing Corporation Chairman Shivalingegowda, and Anekal MLA Shivanna.
“The Cabinet has now approved the project, and a stadium will be developed on around 50–60 acres,” he said.
He further added that he has requested the Deputy Chief Minister to build another stadium at Shivarama Karanth Layout through the BDA, where 40 acres have been allocated. Plans are also being discussed to develop a well-equipped stadium in Bidadi.
Commending state government's recent bilingual policy move, Suresh said forcing children to learn three languages could affect their comprehension.
“It is a good decision to make two languages compulsory. Learning a third language should be left to the choice of students and parents,” he said.
Responding to criticism from BJP leaders, he said their tendency is to oppose every decision of the government.
“To please their central leadership, they take a pro-Hindi stance. Instead, they should advocate for the adoption of Kannada in all states,” he said.
When asked about the earlier three-language policy under Congress, he said, “the situation is different now. Today, the focus should be on quality learning. Kannada should remain the primary language, while students and parents can choose an additional language.”
