Friday, June 12, 2009

Religious Group in Japan Fined ¥300 Million For Treating Taxable Income as Offerings

The Japan Times reports that the Kantoshinetsu Regional Tax Bureau in Japan has fined the Cosmic Truth Society ¥300 million (US$3 million) for wrongly treating ¥1.4 billion in taxable revenues as tax-exempt offerings.  The article states that while the group reported about 60 percent of the revenues from its 23 love hotels in Japan, it failed to declare the remaining 40 percent of revenues over the seven-year period through February 2008.  The group has objected to the decision.

LHM

http://lawprofessors.typepad.com/nonprofit/2009/06/religious-group-in-japan-fined-300-million-for-treating-taxable-income-as-offerings.html

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