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Tax body finds Facebook Japan failed to report ¥500 mil in income

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Failure to declare is a big no no in any country.

What will the penalty be?

9 ( +10 / -1 )

What's their excuse?

5 ( +6 / -1 )

See, the trickle down effect works...

2 ( +2 / -0 )

Tax evasion in Japan is a National Pastime.... it is bigger than Sumo, Soccer and Baseball put together. Why do think people cash is still used so much in Japan... so earnings won't have to be reported. All of those foreign cars you see... they buy those under a company name as a tax write off. But when a foreign company messes up a few numbers... its big news. Bunch of hypocrites.

0 ( +8 / -8 )

Almost every person that make above a certain amount commit tax evasion. When I became a director at my previous company in the US, you have the ability of receiving your entire bonuses in the form of company shares. So instead of actually getting a monetary value, you would receive a set amount of shares. What this does is allow you to avoid being taxed 48% on bonuses and placed you at a maximum of 15% on any gains. This is why many people above a certain amount make far more than others yet pay far less taxes than someone making $40,000 to $115,000 per year. This is not the same as an Employee stock purchase plan.

6 ( +6 / -0 )

JJ@ What if there were no gains?

-1 ( +0 / -1 )

Most countries are starting to crack down on the tax scams operated by multinational digital companies. About time, it has taken them long enough to catch on to a change that has been happening for twenty years!

6 ( +6 / -0 )

Most countries are starting to crack down on the tax scams operated by multinational digital companies.

Not only the "digital" ones.

For example : https://fortune.com/2016/03/11/apple-google-taxes-eu/

2 ( +2 / -0 )

JJ@ What if there were no gains?

Then you don't pay taxes at all.

Facebook is not Japanese company so Mark Zuckerberg won't finish like Ghosn.

0 ( +0 / -0 )

Is that all they made in Japan ?

0 ( +0 / -0 )

Wait until Zuck the Crook launches his new cryptocurrency, then the tax office will have a real bonanza -- if they can figure it out.

0 ( +0 / -0 )

Vince BlackAug. 29  04:07 pm JST What's their excuse?

"We're Facebook and you're not!"

Zuckerberg is an arrogant twit.

0 ( +0 / -0 )

JJ JetplaneAug. 29  04:57 pm JST Almost every person that make above a certain amount commit tax evasion. When I became a director at my previous company in the US, you have the ability of receiving your entire bonuses in the form of company shares. So instead of actually getting a monetary value, you would receive a set amount of shares.

Stock has no value until it is sold - it's an asset but not income. So you weren't getting one over on the tax man. The problem, at least in the case of the U.S., is that unearned income is under taxed, but I digress.

0 ( +0 / -0 )

I’m glad that they’re doing this in Japan. Because with what they’re doing in the US combined with this, It just shows that these companies can no longer really feel like that they can get away with tax dodging or money laundering anymore. Or even privacy breaches, which is what I think they were doing in the US actually.

0 ( +0 / -0 )

@JeffHuffman

You are correct that stocks have no value until they are sold. That is why I said after selling them for their value, I would simply pay 15% of any gains as opposed to 48% of the money value of my bonus. It’s not getting over on the tax man. It’s working within the system and not paying your fair share of taxes.

The same way Jamie Dimon in his quote where he said “the rich can afford to pay more but the government has to spend more effectively.” He took home $29.5 million in bonuses but paid a little over $40,000 in taxes on those bonuses.

@Tom

No gains or losses help offset your actual income.

0 ( +0 / -0 )

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