Sony hit by tax fine

[AndrewTS]

Sony Hit by Tax Fine

by Christophe Kagotani

   

 

Wednesday, 29 June 2005

Japanese financial authorities have fined Sony 4.5 billion yen, as well as back-taxes after the company was found to have been lax in its reporting procedure.

 

The company was found to have knowingly hidden millions of dollars in revenue over a five-year period; mostly through its overseas branches.

 

Sony had been charging subsidiaries a technology fee for its Rsearch & Development, but Japanese watchdogs said this had not been done satisfactorily.

 

Sony's financial results are likely to take a bearing as a result.

 

http://www.next-gen.biz/index.php?option=c...id=297&Itemid=2

 

Of course, the big losers here are gamers. After all, that money likely would have been plunged right back into the company to assure the continued standard of quality people expect from the Sony name.

[Prophet of Mike Zagurski]

Of course, the big losers here are gamers. After all, that money likely would have been plunged right back into the company to assure the continued standard of quality people expect from the Sony name.

 

Are you trying to be sarcastic? Just wondering...

[Guest Vitamin X]

Of course, the big losers here are gamers.  After all, that money likely would have been plunged right back into the company to assure the continued standard of quality people expect from the Sony name.

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Sarcastic or not, still