Haseko hid ¥2.5 billion in income

JIJI

The Tokyo Regional Taxation Bureau has determined that major condominium builder Haseko Corp. concealed about ¥2.5 billion in taxable income for the three years through March 2012, sources said Tuesday.

The company was ordered to take corrective measures in March, the sources said.

No punitive levies were imposed over corporate tax payments because Haseko was in the red. However, the firm was ordered to pay ¥200 million in punitive taxes over irregularities involving the consumption tax and has complied with the order, the sources said.

A company spokesman said Haseko’s opinion on the matter differed from that of the authorities, but it accepted the orders.