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American Engineering tagged for tax evasion

Date Posted: 2008-01-24

American Engineering Corporation, a company heavily involved with contracts on US military installations, has been charged by the Naha Prosecutors Office with concealing revenues to avoid paying corporate taxes.

The Okinawa office of the National Tax Office, suspicious about the figures being reported by American Engineering over the past few years, launched an investigation and discovered major errors in the amount of sales being reported. Tax officials say declarations were suspiciously low, a move made to reduce the amount of taxes owed.

The Tax Office says American Engineering under reported earnings by 220 million over the past three years, leading the company to not pay any corporate taxes. American Engineering was ordered to pay a total of 330 million, a figure including penalties. American Engineering Corporation has reportedly admitted to the tax evasion charges.

The National Tax Office filed its accusation against American Engineering with the Naha Prosecutors Office last April. The Prosecutors Office conducted its own investigation, which led to the charges filed Monday.

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