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2024 February 21 - 27 TOP3 [POLITICS]

\135.3 million in back taxes be levied if LDP slush funds are regarded as income

February 27, 2024

A total of more than 135.3 million yen in back taxes will be levied if unreported profits from LDP factions’ fundraising parties are assessed as taxable income.

The National Federation of Traders and Producers Organizations (Zenshoren) on February 26 visited the National Tax Agency and demanded that the agency conduct tax investigations on LDP politicians involved in the creation of off-the-book funds and in turn impose penalty taxes on them.

Zenshoren Secretary General Okazaki Tamito pointed out that the amount not stated in their political fund reports totaled about 579.5 million yen, according to a report of LDP surveys on the slush funds, and that 85 LDP Dietmembers are suspected of having evaded payments due on their income tax.

An official of the tax authorities said in response, “If some problems are found in tax imposition, we will conduct tax inspections and strive to ensure proper and fair taxation.”

Okazaki complained that small business owners often undergo severe tax inspections and pay the consumption tax under the just-begun tax-invoice system. “On the other hand,” he continued, “The tax enforcement office lets politicians, who do not declare their taxable income, go unchecked. The country’s tax administration will lose the public trust.”

Past related article:
> Koike: Survey on LDP slush funds far from satisfactory [February 14, 2024]
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