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SoftBank Found Guilty of Hiding $1.25 mn Taxable Income, Fined
December 04, 2017
After finding out that Softbank Group Corp’s mobile carrier unit had hidden about 140 million yen (1.25 million USD) of taxable income for the financial year 2014-15, the tax authorities of Japan have slapped a penalty of about 45 million yen on it which is to be paid back in taxes.
In addition to that, the tax authorities have also told the banking group that it hadn’t reported about 6 billion yen of income by improperly counting the depreciation of its telecommunication equipment.
