Legal
Massive tax evasion found in Ferrari, other luxury car resales in Japan
About 20 companies and individuals have been penalised by tax authorities in Japan for intentionally hiding profits, or failing to report profits, from the sale of expensive imported cars such as Ferraris, The Yomiuri Shimbun has learned. A total of 800 million yen (S$9.8 million) in profit was concealed for…
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Click here to read the full story: The Straits Times