Tax controversy – Denso’s Singapore subsidiary a CFC

News, information

The Asahi Newspaper reported in July 2010 that Denso, the largest automotive parts manufacturer in Japan and part of the Toyota group, had received direction during its last tax audit that the company had under-reported JPY11.4Bn Read More

Tax Controversy – authorities challenge merger qualification

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Softbank’s reported results for the three month period ended 30 June 2010 included JPY26.4Bn in respect of an assessment to taxes raised on its subsidary, Yahoo Japan, received from the Tokyo Regional Tax Bureau (TRTB) on 30 June 2010.  Read More

Tax Controversy – disallowance of related company recharges

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The Asahi Newspaper reported on 11 August 2010 that Hewlett Packard’s Japanese subsidiary (‘Japan HP’) had received an assessment in respect of JPY47Bn (USD550m) unreported income. Read More

Tax Controversy – Panasonic taxed on “donation” to Chinese subsidiary

August 4, 2010  |  basics, Developments, Financing, News  |  No Comments

News, information

The Asahi Newspaper reported on 2 August 2010 that the major household electronics manufacturer Panasonic had been subject to an assessment for JPY22Bn Read More

Tax Controversy – Daiei taxed on forgiveness of debt to subsidiaries

July 31, 2010  |  Corporate Recovery, Developments, News  |  No Comments

News, information

Japanese retailer Daiei was assessed JPY25Bn (USD294m @85) for understating taxable income for four years.  The Asahi newspaper reported as follows: Read More