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National Tax Agency reveals ‘mattress money’ exists, reveals tax evasion at all-time low – TokyoReporter

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The Tokyo Regional Taxation Bureau discovered 660 million yen in money hid below a mattress inside a Tokyo residence (NHK)

TOKYO (TR) – Earlier this yr, the Bank of Japan revealed that nationwide cash-based belongings referred to as “mattress money” reached an all-time excessive in 2020.

The determine, after all, refers to cash-based belongings — and never essentially forex stuffed inside bedding, however that does occur, experiences NHK (June 17).

In asserting on Thursday that tax evasion reached a file low final yr, the National Tax Agency divulged that one offender saved greater than 700 million yen of their residence within the capital, nearly all of which was below a mattress.

At some level final yr, the Tokyo Regional Taxation Bureau discovered about 660 million yen in money packed inside cardboard containers below the mattress of a mattress. They additionally discovered a further 60 million yen in money inside a suitcase and closet.

Fistful of yen: Tax officers seized 720 million yen from a residence in Tokyo in 2020 (NHK)

“Pursue criminal liability”

Overall, tax evasion is on the decline nationwide, largely as a result of coronavirus pandemic, in response to the company.

Over a one-year interval ending in March, tax officers prosecuted violators in 83 instances by which the whole quantity evaded was 6.93 billion yen, the bottom determine since data started being saved in 1972.

Meanwhile, the variety of international-related instances — together with for export tax exemptions and cash hid abroad — reached 27, a five-year excessive.

Kazutoshi Harada of the National Tax Agency mentioned, “We will continue to pursue criminal liability for malicious persons who attempt to evade taxes.”



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