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Sony Ordered to Pay Extra $243M in Taxes

Sony Corp. said Friday that Japanese tax authorities have ordered it to pay an estimated 27.9 billion yen ($243 million) in additional taxes. The Tokyo Regional Taxation Bureau ordered the company to pay the additional taxes related to its game console and other operations in the United States, Sony said in a statement.

Sony planned to file a protest with the tax authorities promptly, arguing that the additional taxes would constitute double taxation under the terms of U.S.-Japan bilateral tax treaties, the statement said.

The company also plans to request bilateral consultations on the matter.

The tax authorities notified Sony and Sony Computer Entertainment Inc. that it had found fault with tax payments related to profits from the game console operations of SCEI's U.S. subsidiary from 1999 to 2004, the statement said.

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THAMMER13740d ago

Bring on the $100.00 games???? :^(

Alexander3740d ago

lawl add that to there current losses

Moostache3739d ago

If that holds up, Sony will have lost almost $850 Million dollars this year and it is only July!!! ($587 Million in first quarter losses + this $243 Million tax bill.

OUCH.

And that doesn't even include the losses they are going to take once they start selling PS3's at -$400 a pop...

I don't care how big a Sony fanboy you are, that is bad news period. It is also bad news to the rest of the gaming community because it would indicate two things - 1) games will be expensive on PS3 and 2) no price drops on the PS3 hardware in the near term....

Schmitty073739d ago

And that would suck, because Nintendo doesn't count.

THELANDSOFSAND3739d ago (Edited 3739d ago )

they should make the PS3 $700, the games $90 and then they should take all that money and run, because this is a dying company!
lol

but seriously, this is just pathetic...
$850 million in losses?!

i won't miss sony- nintendo and MS can do my gaming, and they won't rip me off for it

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