Japan undeclared corporate income totals 528.6 B. yen
December 1, 2021
TOKYO (Jiji Press) — The total amount of taxable income that companies failed to declare in the year through June fell 32.3% from the previous year to ¥528.6 billion, the National Tax Agency said Tuesday.
The amount of back taxes and penalties stood at ¥120.7 billion, down 26.6%, according to the agency. The number of cases investigated by the agency dropped 67.3% to 25,000, hitting a record low for the second consecutive year amid the novel coronavirus epidemic.
Of the total, 20,000 cases were failures to declare taxable income. They included 7,000 cases of income concealment. The average amount of undeclared income hit a record high of ¥21.16 million, up 106.9%.
“The number of investigated cases fell, but we spent time to analyze business conditions and selected companies that seem to be involved in large-lot and malicious cases,” an agency official said.
Regarding the consumption tax, the agency investigated 25,000 cases, down 66.8%, and charged a total of ¥72.9 billion in back taxes and penalties from 16,000 of the cases.
"Business" POPULAR ARTICLE
-
Tariffs to Cause ‘Short-term Bumps,’ Trump Economic Adviser Tells Fox Business
-
Trump’s Auto Tariffs to Cover Hundreds of Billions of Dollars Worth of Vehicle, Parts Imports
-
Bank of Japan Gov. Ueda Says ‘Uncertainty Is Quite Large’
-
U.S. Tariffs to Deal Serious Blow to Asia’s Emerging Economies; Firms with Production Bases in Southeast Asia May Be Forced to Restructure
-
Japan Big Maker Sentiment Worsens: BOJ Tankan
JN ACCESS RANKING