Japan agrees to refund ¥ 1.8 billion to Capcom under the transfer pricing mutual agreement procedure with IRS

Mutual agreement procedure as negotiated by tax treaty partners was at its best when IRS and National Tax Authority of Japan recently agreed that Japan should not have imposed certain transfer pricing adjustments in case of Capcom, a leading game software company. As a result of mutual agreement Japan has agreed to refund 1.8 billion Yens (around $20 million) to Capcom as stated by Company spokesman and reported by BNA.