Soft Serve Maker Nissei Fails to Declare One B. Yen in Income
Osaka, Aug. 6 (Jiji Press)--Japanese tax authorities have found that major soft serve maker Nissei Co. failed to declare some one billion yen in taxable income in the three years until 2017, informed sources said Tuesday.
Nissei, based in Ibaraki, Osaka Prefecture, has already paid all of some 200 million yen in penalty tax, the sources said.
The company provided a subsidiary in China with manufacturing manuals. Based on them, the unit manufactured products for sale to customers through a different company in China, according to the sources.
The Osaka Regional Taxation Bureau concluded that a part of the sales at the Chinese unit was effectively the parent company's income.
Nissei became the first company in Japan to sell soft serve ice cream in 1951, according to its website and other sources.
[Copyright The Jiji Press, Ltd.]