Honda makes $7.7 billion provision against transfer pricing investigation
April 25, 2008
Five years of profits with Chinese joint venture company under scrutiny
The Japanese motor company Honda has made a $7.7 billion provision against the outcome of a transfer pricing inquiry into its profits from a Chinese car-making joint venture. The Tokyo Regional Taxation Bureau launched the inquiry into profits from Honda’s Chinese car-making joint venture business. The bureau has said that the profits from the Chinese operation were not at arm’s length.
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