21 December, 2005

Japan: Tax authorities found out Suntory failed to declare a part of taxable income

Osaka tax authorities have detected that after a tax audit that the beverages maker Suntory did not declare 760 million yen in taxable income over a four-year period through December 2003, Kyodo announced on December 19.

The Regional Taxation Bureau of Osaka has imposed 240 million yen in back and penalty taxes against Suntory, and the company has made the payment in full.

The sources said Suntory failed to list some dividends it earned through equity holdings of overseas companies.

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