Amended Tax Filings and Additional Tax Burdens Arising from Transfer Pricing Tax Audits
First written in FY2019-Q1. 4 of 8 entries say "Mitigated", first in FY2020-Q1. Latest entry: FY2023.
0 other companies' latest entry also says "Mitigated".
- FY2023MitigatedAnnual report
「Transfer pricing tax-related 8.1 —」
The transfer pricing tax-related item in the reconciliation of the effective tax rate was 8.1% in the previous fiscal year and was not applicable in the current fiscal year. - FY2020-Q3MitigatedAnnual report
「Although corporate income taxes for prior periods incurred in the same quarter of the previous year no longer arose, the company was required to partially reverse deferred tax assets, and ordinary income declined, resulting in」
Corporate income taxes for prior periods incurred in the same quarter of the previous year did not arise in the current quarter, reducing the impact of the additional tax burden related to the transfer pricing tax investigation. Meanwhile, the partial reversal of deferred tax assets is identified as a new tax-related factor. - FY2020-Q2MitigatedAnnual report
「Although ordinary income deteriorated, corporate income taxes for prior periods incurred in the same quarter of the previous year no longer arose and income tax expense also declined. As a result, the company recorded a quarterly net loss attributable to owners of the parent of ¥394 million, an improvement of ¥120 million from the previous year.」
Corporate income taxes for prior periods incurred in the same quarter of the previous year did not arise in the current quarter, and income tax expense also declined, mitigating the earnings impact of the additional tax burden related to the transfer pricing tax investigation year on year. - FY2020-Q1MitigatedAnnual report
「Although ordinary income deteriorated, corporate income taxes for prior periods incurred in the same quarter of the previous year no longer arose and income tax expense also declined. As a result, the company recorded a quarterly net loss attributable to owners of the parent of ¥217 million, an improvement of ¥51 million year on year.」
Corporate income taxes for prior periods incurred in the same quarter of the previous year did not arise in the current quarter, and income tax expense also declined, mitigating the earnings impact of the additional tax burden related to the transfer pricing tax investigation compared with the same period of the previous year. - FY2019RestatedAnnual report
「The company recorded a net loss attributable to owners of the parent, a decline of ¥281 million from the previous consolidated fiscal year, resulting in a return to the red.」
The recording of ¥110 million in corporate income taxes for prior periods and the partial reversal of deferred tax assets continue to be cited as factors behind the full-year net loss. - FY2019-Q3RestatedAnnual report
「Quarterly net income attributable to owners of the parent was affected by the decline in ordinary income, the increase in income tax expense and the resulting need to record corporate income taxes for prior periods. As a result, the company recorded a quarterly net loss attributable to owners of the parent of ¥291 million, a decline of ¥529 million year on year.」
The company recorded ¥110 million in corporate income taxes for prior periods, and the increase in income tax expense continues to be cited as a factor behind the quarterly net loss attributable to owners of the parent. - FY2019-Q2RestatedAnnual report
「Quarterly net income attributable to owners of the parent was affected by the decline in ordinary income, the increase in income tax expense and the resulting need to record corporate income taxes for prior periods,」
The company recorded ¥112 million in corporate income taxes for prior periods during the six months ended the current second quarter, with the increase in income tax expense cited as a factor behind the net loss. - FY2019-Q1MaterialisedAnnual report
「Quarterly net income attributable to owners of the parent was affected by the decline in ordinary income and the need for an amended tax return for transfer pricing in the previous fiscal year at an overseas subsidiary, following continued monitoring by the tax authorities after a transfer pricing tax investigation. As a result, the company recorded a quarterly net loss attributable to owners of the parent of ¥269 million, a decline of ¥283 million year on year.」
Following continued monitoring after a transfer pricing tax investigation at an overseas subsidiary, the company filed an amended tax return for transfer pricing in the previous fiscal year and recorded ¥114 million in corporate income taxes for prior periods. As a result, quarterly net income attributable to owners of the parent was a loss of ¥269 million.