News On Japan

Netflix's Japan unit fails to declare Y1.2 bil in taxable income

Mar 22 (Japan Today) - A Japanese unit of video streaming giant Netflix Inc failed to declare 1.2 billion yen ($10.1 million) 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.

About 300 million yen in additional taxes, including the underreported amount, is expected to be levied on the Japanese unit, which is in charge of managing contracts with film production companies.

The Japanese company had bought the rights to stream content from multiple production companies. It then resold the rights to the Netherlands unit, which in turn made a disproportionately bigger profit out of such transactions, according to the sources.

The tax bureau determined that while the Japanese unit was paid for the outlays for acquiring such streaming rights, it did not receive the commensurate profit allocation. ...continue reading

News On Japan
POPULAR NEWS

Three bodies have been discovered near the crater of Mount Fuji, with all individuals confirmed deceased.

Countries are struggling to find contractors to complete the construction of complex pavilions before the opening ceremony of the Osaka-Kansai Expo on April 12 next year, while some participants feel uneasy about the potential for methane gas accidents.

The Emperor and Empress of Japan, on an official visit to the United Kingdom, departed Buckingham Palace by car after attending a luncheon.

A 26-year-old nursery teacher has been arrested on suspicion of assaulting a child at a daycare center in Setagaya Ward, Tokyo, including forcefully pulling the child's hair.

A dramatic rescue took place near JR Inari Station in Kyoto on June 23rd, captured by a motorcycle's dashcam. The footage shows a railroad crossing with the barrier down, and an elderly woman lying on the tracks.

MEDIA CHANNELS
         

MORE Society NEWS

Osaka Prefectural Police have sent a Chinese national to prosecutors for allegedly riding an electric suitcase on a sidewalk, marking the first such case in Japan.

Over 20 million yen in damages are suspected from a series of robbery incidents involving forced intoxication.

A dramatic rescue took place near JR Inari Station in Kyoto on June 23rd, captured by a motorcycle's dashcam. The footage shows a railroad crossing with the barrier down, and an elderly woman lying on the tracks.

According to the Japanese Consulate General in Shanghai, a Japanese mother and her preschool child were attacked by a man believed to be Chinese while waiting at a bus stop in Suzhou on the afternoon of June 24.

In Hokkaido, where bear attacks on cattle have been frequent, stray dogs exhibit wolf-like behavior have now become a serious issue. On June 19, footage captured in Shunan, Yamaguchi Prefecture, showed a stray dog rushing out aggressively towards an already formed pack. This region has been plagued by the problem of stray dogs for around 20 years due to uncontrolled breeding.

The series 'Sonaeru,' which focuses on disaster preparedness, brings attention to an incident from July 2023 when record-breaking rainfall in Fukuoka Prefecture's Kurume City triggered a massive landslide in the Minoo Mountains, resulting in one fatality. This region faced a similar disaster 300 years ago, with historical documents offering clues on how to prepare for such unexpected events.

Japanese police are stepping up efforts to crack down on the designated gangs Yamaguchi-gumi and Kizuna-kai whose rivalry continues.

In July two years ago, former Prime Minister Abe was shot and killed. It has been revealed that the man accused in the incident said he 'did not expect the situation to become what it is now.'