MetLife faced with US$48mn unpaid tax bill

Clamp down comes at a time when foreign groups are showing a keen interest in the Japan’s investment management sector

Sharp differences seem to have surfaced between the US based insurer, MetLife and the Japanese tax authorities on the tax treatment of some of its income and expenses following a recent investigation of Metlife’s business by the country’s National Tax Service (NTS). The NTS has ordered the company to pay $48mn which it says have accumulated in unpaid taxes.