Tokyo Real Estate Firm Allegedly Hid Profit from Sale of Building in Shirokane District, Says Tokyo Tax Office

The Yomiuri Shimbun

12:41 JST, January 29, 2024

The Tokyo Regional Taxation Bureau has filed a criminal complaint with prosecutors against the effective owner of a real estate company and a certified public accountant on suspicion of tax evasion over the sale of a building in Shirokane, Minato Ward, it has been learned.

The now defunct Shirokane Medical Support, based in Minato Ward, is suspected of hiding some ¥437 million in profits earned over the two years to August 2021 by fabricating subcontracting expenses, among other means, and of evading about ¥107 million in corporate taxes.

The real estate company turned a large profit by selling the rights to a building constructed on the former site of a hospital in the redevelopment of Shirokane, sources said.