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SoftBank under-reported income to Japan's tax authorities by around 40 billion yen

Shortpedia

Content Team
Image Credit: shortpedia

SoftBank under-reported income to Japan's tax authorities by around 40 billion yen in the financial year that ended March 2019, a person familiar with the matter said. The under-reported income was offset by losses recorded that year. SoftBank was told it booked expenses in the wrong period, made calculation errors when converting foreign denominated debt and under-reported income at overseas affiliates without providing details.