TOKYO (TR) – The Tokyo Regional Taxation Bureau has accused the head of a solar power generation company of evading more than 100 million yen in taxes, reports TBS News (Dec. 21).
Over a two-year period ending last year, Masahiro Yamashita, the 52-year-old representative director of ITD Holdings, located in Shinjuku Ward, allegedly concealed 525 million yen to avoid paying 132 million yen in taxes.
On December 20, the bureau lodged a complaint with the Tokyo District Public Prosecutor’s Office. Yamashita is believed to have used the funds to purchase a residence.
Also cited in the case was Hideyuki Motoyama, the 48-year-old president of J-Product. Motoyama was accused of accepting bank transfers for fake orders from Yamashita in allegedly assisting in the tax evasion of ITD Holdings.
Regarding the accusations, a representative of ITD Holdings said, “At present, a response is not possible.”