Tax Office Confirms More Nissan Funds Used Privately by Ghosn
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Tokyo, Aug. 20 (Jiji press)--Japanese tax authorities have concluded that former Nissan Motor Co. <7201> Chairman Carlos Ghosn used more company funds for private purposes than previously confirmed, informed sources said Thursday.
The Tokyo Regional Taxation Bureau found that Nissan failed to declare about 1 billion yen in taxable income over the five years through March 2019, judging that costs related to Ghosn's personal use of a Nissan-owned jet and other payments should not have been counted as the automaker's expenses.
Payments also judged to be his personal expenses include a donation to a university in Lebanon and rents he paid for his residences in Tokyo and Paris.
Also, the bureau concluded that money he gave to his sister in the name of consultation fees was a dummy payment for the purpose of concealing income, imposing punitive taxes on the automaker.
Nissan was told to pay about 250 million yen in back taxes and penalty, including extra taxes for underreporting its income.
[Copyright The Jiji Press, Ltd.]