Risk of tax burdens arising from tax reassessment notices issued to Thai subsidiaries
First written in FY2017-Q2. 8 of 13 entries say "Restated". Latest entry: FY2020.
Janome moved to the "Worse" side of this theme in 2020.
0 other companies' latest entry also says "Materialised".
- FY2020MaterialisedAnnual report
「The amount of the payment finalized in connection with the tax-related litigation concerning value-added tax (VAT) at the Thai consolidated subsidiary has been recorded as an extraordinary loss. The tax authorities’ objections arose from a difference in interpretation.」
Regarding the previous 18 million baht tax reassessment notice and litigation, the finalized payment of ¥72 million was recorded as an extraordinary loss. The matter has moved to the stage at which the tax burden has been finalized and incurred in practice. - FY2020-Q3RestatedAnnual report
「The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore has filed a lawsuit with the Thai Tax Court. Payment of the assessed tax has been provisionally substituted by submitting a payment guarantee from the company’s transaction bank.」
Regarding the 18 million baht tax reassessment notice, the filing of a lawsuit with the Thai Tax Court and the substitution of provisional payment with a payment guarantee are restated. No new procedural stage is reported. - FY2020-Q2AdvancedAnnual report
「The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore has filed a lawsuit with the Thai Tax Court.」
Regarding the 18 million baht tax reassessment notice, the status of having filed a lawsuit with the Thai Tax Court is reconfirmed, following the previous quarter’s planned filing. - FY2019-Q3RestatedAnnual report
「The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore has filed a lawsuit with the Thai Tax Court.」
Regarding the 18 million baht tax reassessment notice issued to the Thai subsidiary, the procedural stage of having filed a lawsuit with the Thai Tax Court is restated. - FY2019-Q2AdvancedAnnual report
「The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore has filed a lawsuit with the Thai Tax Court.」
Regarding the 18 million baht tax reassessment notice, the procedural stage has advanced from the previous quarter’s planned filing to a lawsuit filed with the Thai Tax Court. - FY2019-Q1Tax proceedings moved to planned litigation before the Tax CourtAnnual report
「The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore plans to file a lawsuit with the Thai Tax Court.」
Regarding the 18 million baht reassessment notice, the description has changed from the previous objection to the planned filing of a lawsuit with the Thai Tax Court, indicating a change in the procedural stage. - FY2018RestatedAnnual report
「Our consolidated subsidiary in Thailand, ジャノメダイカストタイランド株式会社, received a tax reassessment notice from the Thai tax authorities dated 4 August 2016, assessing tax of 18 million baht. The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore filed an objection with the Tax Appeals Tribunal of the Thai Revenue Department.」
The 18 million baht tax reassessment notice, the objection and the substitution of provisional payment with a payment guarantee are restated. No new developments are reported. - FY2018-Q3RestatedAnnual report
「Our consolidated subsidiary in Thailand, ジャノメダイカストタイランド株式会社, received a tax reassessment notice from the Thai tax authorities dated 4 August 2016, assessing tax of 18 million baht. The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore filed an objection with the Tax Appeals Tribunal of the Thai Revenue Department. Payment of the assessed tax has been provisionally substituted by submitting a payment guarantee from the company’s transaction bank.」
The 18 million baht reassessment notice issued to the Thai subsidiary, the objection and the substitution of provisional payment with a payment guarantee are restated without change. - FY2018-Q2RestatedAnnual report
「Our consolidated subsidiary in Thailand, ジャノメダイカストタイランド株式会社, received a tax reassessment notice from the Thai tax authorities dated 4 August 2016, assessing tax of 18 million baht. The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore filed an objection with the Tax Appeals Tribunal of the Thai Revenue Department.」
The 18 million baht reassessment notice issued to the Thai subsidiary, the objection and the substitution of provisional payment with a payment guarantee are restated without change. - FY2018-Q1RestatedAnnual report
「Our consolidated subsidiary in Thailand, ジャノメダイカストタイランド株式会社, received a tax reassessment notice from the Thai tax authorities dated 4 August 2016, assessing tax of 18 million baht. The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore filed an objection with the Tax Appeals Tribunal of the Thai Revenue Department.」
The 18 million baht reassessment notice issued to the Thai subsidiary, the objection and the substitution of provisional payment with a payment guarantee are restated without change. - FY2017RestatedAnnual report
「Our consolidated subsidiary in Thailand, ジャノメダイカストタイランド株式会社, received a tax reassessment notice from the Thai tax authorities dated 4 August 2016, assessing tax of 18 million baht.」
The 18 million baht tax reassessment notice, the objection and the substitution of provisional payment with a payment guarantee are restated without change. - FY2017-Q3RestatedAnnual report
「Our consolidated subsidiary in Thailand, ジャノメダイカストタイランド株式会社, received a tax reassessment notice from the Thai tax authorities dated 4 August 2016, assessing tax of 18 million baht. The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore filed an objection with the Tax Appeals Tribunal of the Thai Revenue Department. Payment of the assessed tax has been provisionally substituted by submitting a payment guarantee from the company’s transaction bank.」
The 18 million baht reassessment notice issued to the Thai subsidiary, the objection and the substitution of provisional payment with a payment guarantee are restated without change. No new developments are reported. - FY2017-Q2MaterialisedAnnual report
「Our consolidated subsidiary in Thailand, ジャノメダイカストタイランド株式会社, received a tax reassessment notice from the Thai tax authorities dated 4 August 2016, assessing tax of 18 million baht. The company considers the contents of the reassessment notice unjustifiable, improper and unacceptable, and therefore filed an objection with the Tax Appeals Tribunal of the Thai Revenue Department. Payment of the assessed tax has been provisionally substituted by submitting a payment guarantee from the company’s transaction bank.」
The Thai subsidiary received a tax reassessment notice for 18 million baht and has filed an objection. As provisional payment has been substituted by a payment guarantee, the contingent tax liability and tax payment burden risk have become concrete.