Sony to contest order to pay additional taxes

Sony Corp. is contesting an order from the Japanese tax office to pay additional taxes related to sales between its Japan and U.S. PlayStation divisions.

Sony is contesting an order from the Tokyo Regional Taxation Bureau to pay additional taxes on profits made from sales of products between its Japanese and overseas units, the company said Friday.

Sony has been asked to pay a total of YEN 27.9 billion (US$239.9 million) in additional taxes related to profits recorded in two areas.

The first relates to sales between Sony Computer Entertainment (SCEI) and Sony Computer Entertainment America (SCEA) between April 1999 and March 2005. And the second is on transactions related to CD and DVD disc manufacturing operations with several overseas subsidiaries from April 2003 to March 2005.

"Sony and SCEI believe that their allocation of income for the periods in question was appropriate and that they have paid the proper amount of taxes in each of the jurisdictions," the companies said in a statement. "Therefore Sony and SCEI disagree with the position of the Tokyo Regional Taxation Bureau and will promptly lodge an objection."

Sony and SCEI said they believe the issue will ultimately be resolved to their satisfaction and as such Sony said it does not expect any material impact on its consolidated profit and loss.

News of the order comes a day after Sharp said tax officials had asked the company to pay an additional YEN 300 million in back taxes related to purchases of electronics components.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Martyn Williams

IDG News Service
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Bitdefender 2019

This Holiday Season, protect yourself and your loved ones with the best. Buy now for Holiday Savings!

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?