close
close

leadingticklescanada

Real-time news, timeless knowledge

Japan’s rich people failed to declare 65.5 billion Yen income
bigrus

Japan’s rich people failed to declare 65.5 billion Yen income

Rich people in Japan failed to declare a total of ¥65.5 billion in taxable income for the year through June, according to a report released by the National Tax Administration on Friday; This figure decreased by 33.2% compared to the previous year.

During the year, the agency conducted 2,407 investigations targeting the wealthy, including those who own significant amounts of securities and real estate; This figure indicates a decrease of 18.2%. It collected a total of ¥17 billion in back taxes, down 7.1%.

The undeclared income of all people subject to investigation, including the wealthy, rose 10.2% to ¥996.4 billion. Total retroactive taxes rose 2.2% to ¥139.8 billion, again reaching a record high.

The agency attributed this increase in part to the full-fledged use of artificial intelligence to make investigations more efficient.

Business management consultants concealed the largest amount of taxable income per case, averaging ¥38.71 million. They were at the top of the list last year too.

Nightclub servers and hostesses came in second with ¥36.54 million, followed by so-called online content publishers with ¥23.81 million.