• Kyodo

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Major distiller Takara Holdings Inc. failed to declare 210 million yen in taxable income in the two years to March 2002, sources said Thursday.

The Osaka Regional Taxation Bureau, which determined that the firm concealed 24 million yen of that amount, imposed 70 million yen in taxes and penalties on the Kyoto-based firm.

The sources said the tax bureau believes Takara hid the income by manipulating the period in which it booked promotional costs and failing to declare income related to promotional fees paid to overseas affiliates.

Best Work in tax probe

The Tokyo Regional Taxation Bureau has filed a criminal complaint against computer software firm Best Work for allegedly hiding 580 million yen in taxable income and evading 180 million yen in taxes over a four-year period to March 2002.

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