Increase in Tax Burden at South Korean Subsidiary Due to Reduced Tax Incentives
First written in FY2016-Q2. 6 of 9 entries say "Restated". Latest entry: FY2025.
No other company in this theme has enough history to compare yet.
- FY2025Updated the scope of the tax incentivesAnnual report
「As of the end of the fiscal year, W-SCOPE KOREA CO., LTD. was entitled to tax reductions at the applicable reduction rate.」
The disclosures were updated to identify WSK as the sole entity entitled to tax incentives following the exclusion of WCP from the scope of consolidation. - FY2022RestatedAnnual report
「As of the end of the fiscal year, W-SCOPE KOREA CO., LTD. and W-SCOPE CHUNGJU PLANT CO., LTD. were entitled to tax reductions at the applicable reduction rate. However, if grounds arise for the collection of additional tax on tax reductions under the Act on Special Measures Concerning Taxation, the expiration of the applicable period for such tax incentives may affect the operating results and financial position of the Group.」
Continues to disclose WSK's and WCP's use of tax incentives and the potential impact of grounds for additional tax collection or the expiration of the applicable period. - FY2020Updated the subsidiaries eligible for tax incentivesAnnual report
「As of the end of the fiscal year, W-SCOPE KOREA CO., LTD. and W-SCOPE CHUNGJU PLANT CO., LTD. were entitled to tax reductions at the applicable reduction rate. However, if grounds arise for the collection of additional tax on tax reductions under the Act on Special Measures Concerning Taxation, the expiration of the applicable period for such tax incentives may affect the operating results and financial position of the Group.」
The disclosures identify WSK and WCP as the 2 companies entitled to tax incentives and continue to address the risk of an increased tax burden due to grounds for additional tax collection or the expiration of the applicable period. - FY2019RestatedAnnual report
「As of the end of the fiscal year, W-SCOPE KOREA CO., LTD. was entitled to tax reductions at the applicable reduction rate. However, if grounds arise for the collection of additional tax on tax reductions under the Act on Special Measures Concerning Taxation, the expiration of the applicable period for such tax incentives may affect the operating results and financial position of the Group.」
Continues to disclose the Korean subsidiary's use of tax incentives and the potential impact of grounds for additional tax collection or the expiration of the applicable period. - FY2018RestatedAnnual report
「As of the end of the fiscal year, W-SCOPE KOREA CO., LTD. was entitled to tax reductions at the applicable reduction rate. However, if grounds arise for the collection of additional tax on tax reductions under the Act on Special Measures Concerning Taxation, the expiration of the applicable period for such tax incentives may affect the operating results and financial position of the Group.」
Continues to disclose the Korean subsidiary's current use of tax incentives and the potential increase in its tax burden due to grounds for additional tax collection or the expiration of the applicable period. - FY2017RestatedAnnual report
「However, if grounds arise for the collection of additional tax on tax reductions under the Act on Special Measures Concerning Taxation, the expiration of the applicable period for such tax incentives may affect the operating results and financial position of the Group.」
Continues to disclose the potential impact on the Korean subsidiary of grounds for additional tax collection or the expiration of the applicable period for its tax reductions. - FY2016RestatedAnnual report
「The main factor behind the increase in the tax burden was that capital investment in 2016 was in a transitional period. The tax burden ratio is expected to remain at a stable level going forward.」
Explains the increase in the tax burden associated with a transitional period in capital investment and expects it to remain at a stable level going forward. - FY2016-Q3RestatedAnnual report
「In addition, the increase in the Korean subsidiary's tax burden was attributable to the reduction of tax incentives during a transitional period in capital investment.」
Continues to explain the reduction of tax incentives and increase in the tax burden during a transitional period in the Korean subsidiary's capital investment. - FY2016-Q2First statedAnnual report
「In addition, the increase in the Korean subsidiary's tax burden was attributable to the reduction of tax incentives during a transitional period in capital investment.」
The reduction of tax incentives during a transitional period in capital investment resulted in an actual increase in the Korean subsidiary's tax burden.