Netflix's Japan unit fails to declare 1.2 bil. yen in taxable income

Economy

A Japanese unit of video streaming giant Netflix Inc. failed to declare 1.2 billion yen ($10.1 million) in taxable income over three years through 2019, sources familiar with the matter said Tuesday. The Tokyo Regional Tax Bureau found out about the underreporting following a probe on the Tokyo-based firm, with authorities saying the firm should have been paid more in terms of profit allocation by a Netherlands-based unit of Netflix, the sources said. About 300 million yen in additional taxes, including the underreported amount, is expected to be levied on the Japanese unit, which is in charge...

Kyodo News

Kyodo News