SoftBank penalised for hiding $1.25-mn taxable income

Japan's tax authorities penalised SoftBank Group Corp's mobile carrier unit and ordered it to pay back taxes after it found the company hid about 140 million yen ($1.25 million) in taxable income,

newspaper reported on Sunday. Tax authorities determined the unit, SoftBank Corp, had reduced taxable income by booking the amount as development expenses for the year ended in March 2015, the paper said. Tax authorities found the company could not count the amount as expenses for that timing, as the project in question had not been completed then, the paper said. BLOOMBERG<