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Article: Takeda Pharmaceutical objects order to pay 57 bil. yen in back taxes.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- August 25, 2006
CopyrightCOPYRIGHT 2006 Kyodo News International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Aug. 25--OSAKA -- Takeda Pharmaceutical Co. said Friday it filed an objection against the Osaka Regional Taxation Bureau's order to pay 57 billion yen in back taxes in connection with its export of an anti-ulcer drug to the United States.
An official at Takeda's corporate communications section said, "The transaction of which the authorities took issue should not be subject to a transfer pricing taxation system, so we cannot accept the order." Earlier this year, the taxation bureau told the company it failed to declare 122.3 billion yen in taxable income in six years to March 2005, ordering the drug maker to pay back taxes.
The allegedly unreported sum ...
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