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Ibaraki: Building material co. accused of tax evasion

IBARAKI (TR) – The Kanto Regional Taxation Bureau has filed a criminal complaint with the Mito District Court on suspicion of tax evasion against the 49-year-old president of a building materials company in Joso City, reports Jiji Press (Mar. 8).

According to the bureau, Koji Masuda, the director of Masuda Building Materials, is alleged to have not disclosed 312 million yen in income over a three-year period ending in 2016.

In not reporting the amount, Masuda is liable for 78 million yen in corporate taxes and 21 million yen in consumption taxes, the bureau said.

Over the period in question, Masuda Building Materials saw an increase in sales of crushed stone and the transportation of waste soil from construction sites.

Masuda concealed lowered his reported income by fabricating costs. The director used blank receipts from business partners to create orders that were not actually placed.

The bureau conducted an investigation into Masuda Building Materials in May, 2017. Some of the concealed funds were found in a bank account belonging to Masuda. A portion of the amount was used to buy an investment trust, the bureau said.