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Saturday, September 24, 2016
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Judge Orders Nissan to Show Books to IRS

Nissan in Bermuda?

Nissan in Bermuda?

The Internal Revenue Service (IRS) told a Nashville, Tennessee court they have reason to believe Nissan North America has moved all or some of its US extended service contract business offshore to Bermuda as a result of a probe of the company’s off-shore business activities.

The IRS, by way of the US Attorney’s office for the Middle District of Tennessee, has been seeking an order in US Federal court for Nissan North America to turn over various documents it says are relevant to determining taxes owed in 2005 and 2006, according to court documents.

Nissan, with global headquarters in Japan, refused to release the relevant company documents saying they were not relevant to a particular tax or business matter.

On Monday January 3, Tennessee District Judge Todd Campbell ordered Nissan to comply with an IRS summons it had resisted since last March to turn over documents.  Nissan’s North America headquarters in located in Cool Springs Franklin.

The IRS has stated Nissan refuses to hand over over certain documents.

Last year a Nissan spokesman said the company was “aware of the IRS request and hope to satisfy their inquiry through continued dialogue in lieu of legal action.”

According to court documents, the Internal Revenue Service believes Nissan moved certain business to Bermuda in order to avoid paying U.S taxes.

James C. “Jim” Morton was Nissan Head of Administration & Finance for years the IRS is investigating (2005 & 2006).

Mr. Morton’s position with Nissan charged him with overseeing all finance, legal, governmental affairs, human resource, business strategy, corporate communications, information systems, security, corporate aviation, and audit for Nissan’s North American operations.

Mr. Morton helped lead Nissan North America from Los Angeles to Nashville in 2006.

James C. “Jim” Morton retired from Nissan North America in May 2007.

  • Cebondesen

    Wow, Ill be interested to see how this all pans out.