Japanese Olympic Committee slapped with 2 billion yen in back taxes

The Japanese Olympic Committee has been slapped with around 2 billion yen ($13 million) in additional taxes after tax authorities found improper accounting between fiscal 2018 and 2022, it said Wednesday.There was a difference of opinion over the JOC's expenses and the timing of recognizing its revenues, the Tokyo-based committee said, but it has revised its tax declaration and paid the additional levies to the Tokyo Regional Taxation Bureau."It is very regrettable. But we will do our utmost to ensure a similar thing will never happen again," Takahiro Kitano, a senior executive board member…READ FULL ARTICLE