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Takefuji scion tied to record tax dodge A son of consumer loan firm Takefuji Corp. founder Yasuo Takei, 75, failed to declare a record ¥160 billion in taxable income related to stock in the company's investment business unit in the Netherlands received from his parents, it was learned March 4. The previous record of ¥50 billion was set in 1992 by a former chairman of pachinko machine maker Heiwa Corp. The Tokyo Regional Taxation Bureau has ordered Toshiki Takei to pay more than ¥130 billion in penalties and taxes on the ¥160 billion, sources said. He also owes more than ¥20 billion in overdue taxes, they said. An accountant for Takei, 39, a former executive director of Takefuji, said he registered his residency in Hong Kong and spent 65 percent of the year there, paying residency taxes and working in the venture capital business. Japanese living abroad were exempt from taxation according to the tax code at the time.
The Japan Times Weekly: March 12, 2005 |
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