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Funai Electric Co., Ltd. Files a Complaint to Rescind a Supplementary Tax Assessment Order Implemented through Anti-Tax Haven Rules



Funai Electric Co., Ltd. (hereinafter referred to as the "Company") filed a complaint with the Tokyo District Court to rescind a supplementary tax assessment order implemented through anti-tax haven rules.

The supplemental tax assessment covers a period of three fiscal years running from April 2007 through March 2010, and in this assessment the Osaka Regional Taxation Bureau has indicated a preliminary additional tax of ¥0.9 billion, local tax-inclusive, based on additional unreported income of ¥1.8 billion. The Company charged the tax assessments to income as prior year taxes in the fiscal year ended March 31, 2012.

The Company has also entered an action seeking rescission of previous (dated June 16, 2008) and earlier (dated June 28, 2005) supplementary tax assessments implemented through anti-tax haven rules. The action is still pending before the Supreme Court.

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