Tax Reassessment Notices and Tax Disputes Involving Indonesian Subsidiaries
First written in FY2018-Q2. 2 of 5 entries say "Worsened", first in FY2018. Latest entry: FY2019-Q2.
Yamaha moved to the "Worse" side of this theme in 2018.
0 other companies' latest entry also says "Worsened".
- FY2019-Q2WorsenedAnnual report
「As of the end of the second quarter of the current fiscal year, the Company’s Indonesian consolidated subsidiaries, including PT.Yamaha Musical Products Indonesia, 4 companies in total (the “consolidated subsidiaries”), had received tax reassessment notices from the Indonesian tax authorities concerning tax returns for fiscal 2007 through fiscal 2016, totaling USD 39,228 thousand (¥4,455 million converted at the exchange rate as of the end of the second quarter, including additional taxes and other charges).」
The tax reassessment notices increased from USD 36,011 thousand reported in the previous quarter to USD 39,228 thousand, and the years covered expanded through fiscal 2016. The Company continues to pursue objections, tax litigation, mutual agreement procedures and other measures. - FY2019-Q1RestatedAnnual report
「As of the end of the first quarter of the current fiscal year, the Company’s Indonesian consolidated subsidiaries, including PT.Yamaha Musical Products Indonesia, 5 companies in total (the “consolidated subsidiaries”), had received tax reassessment notices from the Indonesian tax authorities concerning tax returns for fiscal 2007 through fiscal 2015, totaling USD 36,011 thousand (¥3,980 million converted at the exchange rate as of the end of the first quarter, including additional taxes and other charges). Since the Company and the consolidated subsidiaries cannot accept the authorities’ findings, they are pursuing objections, tax litigation, mutual agreement procedures and other measures.」
The Company continues to pursue objections, tax litigation and mutual agreement procedures concerning tax reassessment notices issued to 5 Indonesian subsidiaries. - FY2018WorsenedAnnual report
「We received tax reassessment notices totaling USD 36,218 thousand concerning tax returns for fiscal 2007 through fiscal 2015 (¥3,847 million converted at the exchange rate as of the end of the current fiscal year, including additional taxes and other charges).」
The total tax reassessment notices increased from the previously reported USD 22,678 thousand to USD 36,218 thousand. In addition to the amount for the fiscal year ended March 2016, a USD 13,999 thousand notice for the fiscal year ended March 2013 was added, and the Company is pursuing objections, tax litigation and mutual agreement procedures. - FY2018-Q3Add details of the tax reassessment and objectionAnnual report
「As of the end of the third quarter of the current fiscal year, the Company’s Indonesian consolidated subsidiaries, including PT.Yamaha Musical Products Indonesia, 5 companies in total (the “consolidated subsidiaries”), had received tax reassessment notices from the Indonesian tax authorities concerning tax returns for fiscal 2007 through fiscal 2015, totaling USD 22,678 thousand (¥2,562 million converted at the exchange rate as of the end of the third quarter, including additional taxes and other charges). Since the Company and the consolidated subsidiaries cannot accept the authorities’ findings, they are pursuing objections, tax litigation and other procedures. In August 2017, PT.Yamaha Musical Products Indonesia received a tax reassessment notice from the Indonesian tax authorities concerning sales transaction prices and other matters for the fiscal year ended March 2016, totaling USD 12,953 thousand (¥1,463 million converted at the exchange rate as of the end of the third quarter, including additional taxes and other charges). However, the authorities’ findings lack rationality, including their demand that the company, which performs only contract manufacturing functions, achieve an exceptionally high operating profit margin of more than 40%. As the Company cannot accept the findings, it filed an objection in November 2017.」
The yen equivalent of the previously reported total tax reassessment notice increased to ¥2,562 million, and details were provided on the USD 12,953 thousand notice concerning PT.Yamaha Musical Products Indonesia for the fiscal year ended March 2016 and the objection filed in November 2017. - FY2018-Q2First statedAnnual report
「As of the end of the second quarter of the current fiscal year, the Company’s Indonesian consolidated subsidiaries, including PT.Yamaha Musical Products Indonesia, 5 companies in total (the “consolidated subsidiaries”), had received tax reassessment notices from the Indonesian tax authorities concerning tax returns for fiscal 2007 through fiscal 2015, totaling USD 22,678 thousand (¥2,556 million converted at the exchange rate as of the end of the second quarter, including additional taxes and other charges). Since the Company and the consolidated subsidiaries cannot accept the authorities’ findings, they are pursuing objections, tax litigation and other procedures.」
The 5 Indonesian consolidated subsidiaries received tax reassessment notices totaling USD 22.678 million concerning tax returns for fiscal 2007 through fiscal 2015. The Company is pursuing objections, tax litigation and other procedures.