Honda told to pay extra Japan tax on Brazil profit

Newswire

TOKYO, June 29 (Reuters) - Japan's third-biggest auto maker, Honda Motor Co , said on Tuesday it had been ordered to pay 13 billion yen ($120 million) in additional tax on profits from its motorcycle operation in Brazil. Honda said in a statement it had been told by Tokyo tax officials that its assessment of profits of transactions of a Brazilian subsidiary over six years to 2002 was too low. Honda said it objected to the ruling and would seek consultations between the two countries ...

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