The record $2.4 billion tax refund was officially confirmed by the Japanese court. The person that will receive the huge rebate of tax by the Japanese government is Toshiki Takei – the Director of Takefuji Corporation.
The Authorities ordered Mr Takei to pay the incredible tax of 160 billion yen ($1.92bn) for receiving shares of the company from his parents in 1999.
According to Japanese newspaper, this sum is the largest-ever tax refund for one person and is more than twice as the whole Japanese tax revenue for one year from gift taxes.
The return of tax has to be made because of proving that Mr Takei spent more days in Hong Kong, than in Japan. Proving that he had living in Hong Kong at that time and this is not only temporary residency for avoiding the tax payment, is the reason that the court state as reason for the biggest ever tax refund.
This case is indicative for the tax refunding opportunities in the world. Every case is different and ETS Refunds proceed every client’s claim for tax refund individually. We strive for the biggest possible tax refunds for our clients, hoping some day to be able to refund such enormous sum to our client.
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