Hazama Ando Concealed 250 M. Yen in Income
Tokyo, Nov. 23 (Jiji Press)--Japanese tax authorities have found that general contractor Hazama Ando Corp. <1719> concealed 250 million yen in income over the five years to March 2018, informed sources said Saturday.
Some Hazama Ando employees placed fake orders with subcontractors to take kickbacks, which were used to entertain clients, according to the sources.
The company booked the expenses as outsourcing costs, but the Tokyo Regional Taxation Bureau concluded that the money was entertainment expenses, the sources said.
Including accounting errors, the tax bureau has found that the company failed to declare about 300 million yen in taxable income in the period, the sources said.
Hazama Ando appears to have already paid over 100 million yen in additional taxes, according to the sources.
[Copyright The Jiji Press, Ltd.]