Dave Horvath
30 Jun 2006 6:05
Recent news has shown some possible insight as to the price point of Sony's newest gaming console, the PS3. At the gaming industry trade show known as E3, Sony shocked the world when it announced it's new PS3 will go on sale for an astounding $599. Could it be that this inflated price may have been a foreshadow of their financial outlook?
The Tokyo Regional Taxation Bureau notified Sony and Sony Computer Entertainment Inc that a reassessment of reported profits for the financial year ending March 2000 through to March 2005 resulted in a 74.4 billion Yen difference in their taxes. The tax bureau then ordered Sony to pay an additional 27.9 billion yen ($243 million) in taxes related to transactions between its game unit and its U.S. subsidiary.
"Sony and SCEI believe that their allocation of income for the periods in question was appropriate and that they have paid the proper amount of taxes in each of the jurisdictions," Sony has said in a statement.
Source:
Reuters