OTHER NEWS - Nov. 11, 1992

Matsushita Pays $4.8 Million to Settle Dispute With IRS: A giant Japanese electronics company Tuesday announced an agreement with the U.S. Internal Revenue Service to head off disputes over whether it is over-reporting costs to evade American taxes. Other Japanese companies are expected to follow suit amid expectations in Japan that President-elect Bill Clinton will impose tougher tax requirements on U.S. units of Japanese companies. Japanese press reports said Matsushita Electric Industrial Co. paid a $4.8-million tax supplement in response to IRS charges that the company had set prices of video recorders imported by its subsidiary too high to try to evade U.S. corporate taxes.