Tokyo Tax Authority Demands Sony Pony up another $244 in Taxes

Fresh off its UK Import Duties Loss, the Tokyo Regional Tax Bureau rules that Sony owes an additional 27.9 billion yen (over $244 million) in additional taxes for 74.4 billion yen (about $650 million) in unreported income. The taxes stem from Japan’s “transfer price tax system” which is designed to prevent inter-company transactions between domestic and international affiliates at lower than market prices.

Sources: GameSpot | Next Generation | Gamasutra (4th para)

Related Posts:

• Tokyo Tax Authority Demands Sony Pony up another $244 in Taxes (June 30, 2006)
• UK Court of Appeals Rules PS2 is Not a Computer Eligible for Import Duties Rebate (June 20, 2006)