• Kyodo

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A Japanese unit of video streaming giant Netflix Inc. failed to declare ¥1.2 billion in taxable income over three years through 2019, sources familiar with the matter said Tuesday.

The Tokyo Regional Tax Bureau found out about the underreporting following a probe on the Tokyo-based firm, with authorities saying the firm should have been paid more in terms of profit allocation by a Netherlands-based unit of Netflix, the sources said.

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