IRS Assists Japan in Tax Evasion Investigation of Japanese Real Estate Investments in Hawaii

With the assistance of the Internal Revenue Service, Japan's National Tax Administration Agency has detected 218 instances of possible tax evasion by Japanese nationals in Hawaiian real estate. According to a media report, the preliminary investigations revealed that Japanese nationals may be employing phony names and addresses to hide investments in and profits on real estate in Hawaii.  Japanese invesment in Hawaii was $16.3 billion in 1990.