Kawasaki Heavy fails to declare billions of yen in taxable income

Kawasaki Heavy Industries Ltd. is suspected of failing to declare at least several billion yen in taxable income, a source familiar with the matter said Monday.The Osaka Regional Taxation Bureau uncovered the underreporting following a scandal in which Kawasaki Heavy was allegedly involved in creating slush funds to provide money and goods to Japan's Maritime Self-Defense Force submarine crews, according to the source.In July, Kawasaki Heavy said that billions of yen may have been misappropriated under the guise of transactions with subcontractors and provided to submarine crew members of t…READ FULL ARTICLE