Deals: Mitsubishi hit by $1.02m TP bill
October 22, 2007
Transfer pricing audit costs Japanese car company in Venezuala
Venezuela's tax authority has said that it handed Mitsubishi Motors Corporation a $1.02 million tax tab following an income tax audit of filings for the years 2003 and 2004 that focused on transfer pricing. The Seniat tax authority said in a statement the company, which assembles vehicles in Venezuela, had 15 days to make the payment or face a fine of 10% of the total amount owed.
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