SoftBank pays extra taxes after underreporting income by Y6.2 bil

Oh, so here's another Japanese corporation involved in fraud. This time it's tax fraud.

It's also interesting that, this article has been up all day and not one person has commented on it. I guess reading about Japanese companies involved in fraud doesn't surprise anybody anymore.

Ma-kun, you know better than this. Use some of that money to push Sprint in America up to par.

This is not news.

Considering the amount in dispute, Softbank's annual revenue, and the tax paid this is "chump change". It is pretty clear that Softbank and the tax auditor disagreed on the verbiage in the tax law, which is less than clear in many places. This has happened to me in the past (although not to the level of Softbank). I was not trying to commit fraud, however I was trying to minimize the tax burden to my business. In the end I had to pay some tax (less than the original amount proposed by the auditor) based on an interpretation made by my accountant, that was not in full agreement with the auditor.

This very much sounds like a similar case. All businesses (and yes even in Japan) are not bad.

Complicated tax laws are keeping the tax lawyers busy. All for $15.2 million bucks of tax revenue being paid early.