Japan's wealthy taxpayers' undeclared income hits record high

TOKYO, Nov 24 (News On Japan) - The amount of undeclared income by wealthy people in Japan has reached a record high of 98 billion yen, among the worst offenders being scrap gold wholesalers, breeders and yakiniku restaurants, the National Tax Agency announced on Friday.

"The National Tax Agency annually publishes a ranking of industries with high amounts of undeclared income. This time, the top five are management consultants, scrap gold wholesalers, breeders, yakiniku restaurants, and tile contractors," says Izumi Oguri, Nippon Television Chief Commentator.

"This investigation introduced several instances of high-value tax evasion. Notably, it includes influencers," Oguri continues.

"Influencers who introduce products on social media and receive compensation from companies based on their follower count were cited as cases not declaring part of their income. According to tax accountants, some thought they wouldn't get caught as it's online."

"There are also instances, though not included in this investigation, where women known as 'paid-to-drink' participate in drinking parties for cash, failing to declare income paid by the companies running these matching apps."

"Lack of tax knowledge often leads to non-declaration."

Oguri mentions that "Breeders had cases of not declaring cash sales from pet auctions."

"A tax accountant and former chief examiner of the Tokyo National Tax Bureau, Hiroyuki Sato, analyzes that breeders saw an increase in undeclared income due to higher 'nesting demand' during COVID-19, while bars and hostess clubs have ranked lower due to the pandemic's impact."

The Ministry of Internal Affairs and Communications announced that the national consumer price index for January, excluding the volatile prices of fresh food, rose 2.0% compared to January of last year.

Omron Corporation, a major electronics manufacturer headquartered in Kyoto, has announced plans to cut about 2,000 jobs both domestically and internationally in response to deteriorating performance due to China's economic slowdown. In Japan, the company aims to solicit voluntary retirements for approximately 1,000 employees, which accounts for about 10% of its workforce.

As part of the "Creating the Future from Here" project, TV Asahi is presenting SDGs initiatives on climate change. The theme for Monday's show is "Both Enjoyable Work and Economic Growth," covering an apple orchard that is challenging the future of agriculture with its innovative cultivation method.

Daihatsu Motor Co. has resumed production of ten vehicle models, including its mainstay mini vehicles, at its factory in Oita Prefecture, which had been halted due to an issue with improper certification acquisition. However, the scale of the production resumption, including models for which a plan has been established, remains limited to 40% of Daihatsu's total domestic production, raising concerns about the prolonged impact on suppliers and related businesses.