DOCSLIB.ORG

Taxation in Japan 2019

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Taxation in Japan 2019 in Japan 2019 Taxation in Japan Preface This booklet is intended to provide a general overview of the taxation system in Japan. The contents reflect the information available up to 31 October 2019. While the information contained in this booklet may assist in gaining a better understanding of the tax system in Japan, it is recommended that specific advice be taken as to the tax implications of any proposed or actual transactions. Further information on matters in this booklet can be obtained from KPMG Tax Corporation either through your normal contact at the firm or using the contact details shown below. KPMG Tax Corporation Izumi Garden Tower, 1-6-1 Roppongi, Minato-ku, Tokyo 106-6012, Japan Tel: +81 (3) 6229 8000 Fax: +81 (3) 5575 0766 E-mail: [email protected] Osaka Nakanoshima Building 15F, 2-2-2 Nakanoshima, Kita-ku, Osaka 530-0005, Japan Tel: +81 (6) 4708 5150 Fax: +81 (6) 4706 3881 Dainagoya Building 26F, 3-28-12, Meieki, Nakamura-ku, Nagoya 450-6426, Japan Tel: +81 (52) 569 5420 Fax: +81 (52) 551 0580 Hiroshima Kogin Building 7F, 2-1-22 Kamiya-cho, Naka-ku, Hiroshima 730-0031, Japan Tel: +81 (82) 241 2810 Fax: +81 (82) 241 2811 The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Contents 1 Taxation of Companies ...................................................... 1 1.1 Introduction ...................................................................... 1 1.2 Tax Status of Companies .................................................. 1 1.2.1 Residence ................................................................................ 1 1.2.2 Branch of a Foreign Company vs. Japanese Company ........... 1 1.2.3 Permanent Establishment (PE)................................................ 2 1.3 Tax Rates ......................................................................... 5 1.3.1 Corporation Tax ....................................................................... 5 1.3.2 Business Tax ........................................................................... 6 1.3.3 Prefectural and Municipal Inhabitant Taxes .......................... 12 1.3.4 Special Tax Due by Specified Family Company .................... 13 1.3.5 Effective Statutory Corporate Income Tax Rate.................... 15 1.4 Taxable Year of Companies ............................................ 16 1.5 Taxable Income .............................................................. 17 1.5.1 Japanese Companies ............................................................ 17 1.5.2 Foreign Companies having a PE in Japan ............................. 17 1.6 Capital Gains .................................................................. 18 1.6.1 Capital Gain Rollover Rules ................................................... 18 i 1.6.2 Special Rules for Land Acquired in 2009 and 2010 ............... 19 1.7 Treatment of Excess Tax Losses .................................... 20 1.7.1 Tax Losses Carry-forward ...................................................... 20 1.7.2 Tax Losses Carry-back ........................................................... 21 1.7.3 Change of Control ................................................................. 22 1.8 Deduction of Expenses .................................................. 23 1.8.1 Valuation of Inventories ......................................................... 23 1.8.2 Valuation of Marketable and Investment Securities.............. 23 1.8.3 Provision for Bad Debts ......................................................... 24 1.8.4 Bad Debt Expenses ............................................................... 26 1.8.5 Directors’ Compensation ....................................................... 27 1.8.6 Retirement/Severance Allowances for Directors .................. 30 1.8.7 Restricted Stock .................................................................... 30 1.8.8 Stock Options ........................................................................ 31 1.8.9 Devaluation Loss ................................................................... 31 1.8.10 Corporate Taxes, etc. ............................................................ 32 1.8.11 Donations .............................................................................. 32 1.8.12 Entertainment Expenses ....................................................... 33 1.8.13 Interest – Thin Capitalization Regime/Earnings Stripping Regime .................................................................................. 34 1.8.14 Translation into Japanese Currency (Yen) of Assets/Liabilities in Foreign Currencies ................................ 35 1.8.15 Management Service Fees ................................................... 36 1.8.16 Allocation of Head Office Expenses ...................................... 36 1.9 Tax Depreciation............................................................. 37 1.9.1 Fixed Assets and Depreciation .............................................. 37 1.9.2 Deferred Charges .................................................................. 42 ii 1.10 Revenue to be excluded from Taxable Income ............... 43 1.10.1 Dividends Received from Japanese Companies ................... 43 1.10.2 Revaluation Gain on Assets ................................................... 43 1.10.3 Refunds of Corporate Tax, etc. ............................................. 44 1.11 Tax Credits ..................................................................... 44 1.11.1 Withholding Income Tax Credits ........................................... 44 1.11.2 Foreign Tax Credits ............................................................... 45 1.11.3 Tax Credits for Research and Development (R&D) Expenditure ........................................................................... 45 1.11.4 Tax Credits for Acceleration of Wage Increases and Capital Investment ................................................................ 48 1.11.5 Restriction on Eligible Companies for Applying Tax Credits ................................................................................... 49 1.12 Administrative Overview ................................................ 51 1.12.1 Tax Returns and Tax Payment ............................................... 51 1.12.2 Tax Audits and the Statute of Limitation ............................... 54 1.13 Group Taxation Regime .................................................. 54 1.13.1 100 Percent Group ................................................................ 55 1.13.2 Dividends Received Deduction (DRD) ................................... 55 1.13.3 Deferral of Capital Gains/Losses ........................................... 56 1.13.4 Donations .............................................................................. 59 1.13.5 Non-Recognition of Capital Gains/Losses from Transfers of Shares to the Share Issuing Company .............................. 60 1.13.6 Valuation Losses of Liquidating Companies /Merged Companies............................................................................. 60 1.14 Tax Consolidation ........................................................... 61 iii 1.14.1 Tax Consolidated Group ........................................................ 61 1.14.2 Tax Consolidation Rules ........................................................ 61 1.15 Corporate Reorganizations ............................................. 64 1.15.1 Tax Qualified Reorganizations ............................................... 64 1.15.2 Pre-Reorganization Losses .................................................... 72 1.15.3 Taxation of Shareholders ....................................................... 74 2 Taxation of Partnerships ................................................. 76 2.1 NK-type Partnerships ...................................................... 76 2.1.1 Definition of NK-type Partnerships ........................................ 76 2.1.2 Taxation of Partners .............................................................. 77 2.2 Tokumei Kumiai .............................................................. 79 2.2.1 Tokumei Kumiai (TK) .............................................................. 79 2.2.2 Taxation of the Operator ....................................................... 80 2.2.3 Taxation of Silent Partners .................................................... 80 2.3 Limitation on Utilization of Losses Derived from Partnerships ................................................................... 81 2.3.1 Corporate Partners of Partnerships other than Japanese LLPs - At-Risk Rule (AR rule) ................................................. 82 2.3.2 Individual Partners of Partnerships other than Japanese LLPs ....................................................................................... 83 2.3.3 Corporate Partners of Japanese LLPs ................................... 83 2.3.4 Individual Partners of Japanese LLPs ................................... 83 3 Taxation of Individuals .................................................... 85 3.1 Introduction .................................................................... 85 iv 3.2 Taxpayers ......................................................................
Load more

Recommended publications
  • Guidance for Taxpayers on the Mutual Agreement Procedure (Q&A)
    Guidance for Taxpayers on the Mutual Agreement Procedure (Q&A) July, 2019 Office of the Mutual Agreement Procedure National Tax Agency, Japan This guidance is to complement the contents of the Commissioner’s Directive on the Mutual Agreement Procedure (Administrative Guidelines)*1. This provides clear MAP guidance to taxpayers required by the recommendation of the BEPS Action14 Final Report*2 published in October, 2015. For further information about the Mutual Agreement Procedure, please refer to the Commissioner’s Directive on the Mutual Agreement Procedure (Administrative Guidelines). *1 Amended on May 7, 2019. *2 The BEPS Action14 Final Report: Element 2.1 Countries should publish rules, guidelines and procedures to access and use the MAP and take appropriate measures to make such information available to taxpayers. Countries should ensure that their MAP guidance is clear and easily accessible to the public. Table of Contents 1. The Outline of the Mutual Agreement Procedure (MAP) Q1－1 What is a MAP? Q1－2 What is the purpose of MAP? Q1－3 Which provisions of a tax treaty allow a MAP? Q1－4 Please provide information regarding the number of MAP cases? Q1－5 Which countries can Japan’s competent authorities negotiate with on MAP cases? Q1－6 Please give details about the circumstances surrounding MAP around the world. Q1－7 How long does it take to resolve a MAP case after its request is made? Q1－8 What items should taxpayers pay attention to for making a MAP request? 2. MAP Q2－1 Who is eligible to request for MAP assistance? Q2－2 How can a taxpayer request for MAP assistance? Q2－3 Can a taxpayer consult with the NTA before requesting MAP assistance? Q2－4 Is there a deadline for holding a pre-filing consultation? Q2－5 What kind of documents should be prepared for a pre-filing consultation? Q2－6 Please provide the application form for requesting MAP assistance.
    [Show full text]
  • Free: 115.52 KB
    ASIAN DEVELOPMENT BANK A XECUTIVE D E INSTITUTE Kasumigaseki Bldg. 8F 3-2-5 Kasumigaseki B SUMMARY Chiyoda-ku, Tokyo 100-6008 Japan I Tel: 81 3 3593 5500, Fax: 81 3 3593 5571 SERIES No. S52/01 Email: [email protected] http://www.adbi.org 2001 Tax Conference 5-11 September 2001, Tokyo Executive Summary of Proceedings CONTENTS 2 The governance of tax systems requires governments to Page continue their effort to stamp out corruption and insure Key Messages 1 that the tax systems help the majority and not hurt them in Introduction 3 such endeavors. This is another example of the need for Opening Remarks 3 international cooperation. Taxation in an Interdependent World 4 Japan and International Tax Cooperation 5 3 Tax havens are a genuine concern to all as they erode the Tax Competition Not Necessarily Harmful 5 revenue base. It is however important to understand how E-Commerce and Tax 6 harmful it is and to whom? Who really benefits from tax The Source of Income, Tax Arbitrage and havens? Perhaps this is an area, which deserves detailed Double Tax Agreements 7 research. Transfer Pricing–Advance Pricing Agreements 8 Rationale and Scope for Fiscal Restructuring in At the specific country level, fiscal restructuring and Asia 9 4 Environmental Tax 10 financial sector restructuring are areas where attention Tax Administration and Compliance 11 of national governments as well as donors should go for Electronic Filing of Tax Returns 13 a long-term solution to the ensuing problem from truly Country Experiences with Value Added Tax tax havens.
    [Show full text]
  • Local Taxation in Japan
    Papers on the Local Governance System and its Implementation in Selected Fields in Japan No.10 Local Taxation in Japan Kenichiro HARADA Vice Mayor Komono Town Council of Local Authorities for International Relations (CLAIR) Institute for Comparative Studies in Local Governance (COSLOG) National Graduate Institute for Policy Studies (GRIPS) Except where permitted by the Copyright Law for “personal use” or “quotation” purposes, no part of this booklet may be reproduced in any form or by any means without the permission. Any quotation from this booklet requires indication of the source. Contact Council of Local Authorities for International Relations (CLAIR) (The International Information Division) Sogo Hanzomon Building 1-7 Kojimachi, Chiyoda-ku, Tokyo 102-0083 Japan TEL: 03-5213-1724 FAX: 03-5213-1742 Email: [email protected] URL: http://www.clair.or.jp/ Institute for Comparative Studies in Local Governance (COSLOG) National Graduate Institute for Policy Studies (GRIPS) 7-22-1 Roppongi, Minato-ku, Tokyo 106-8677 Japan TEL: 03-6439-6333 FAX: 03-6439-6010 Email: [email protected] URL: http://www3.grips.ac.jp/~coslog/ Foreword The Council of Local Authorities for International Relations (CLAIR) and the National Graduate Institute for Policy Studies (GRIPS) have been working since FY 2005 on a “Project on the overseas dissemination of information on the local governance system of Japan and its operation”. On the basis of the recognition that the dissemination to overseas countries of information on the Japanese local governance system and its operation was insufficient, the objective of this project was defined as the pursuit of comparative studies on local governance by means of compiling in foreign languages materials on the Japanese local governance system and its implementation as well as by accumulating literature and reference materials on local governance in Japan and foreign countries.
    [Show full text]
  • The Effect of Moving to a Territorial Tax System on Profit Repatriations: Evidence from Japan
    DPRIETI Discussion Paper Series 13-E-047 The Effect of Moving to a Territorial Tax System on Profit Repatriations: Evidence from Japan HASEGAWA Makoto University of Michigan KIYOTA Kozo RIETI The Research Institute of Economy, Trade and Industry http://www.rieti.go.jp/en/ RIETI Discussion Paper Series 13-E-047 May 2013 The Effect of Moving to a Territorial Tax System on Profit Repatriations: * Evidence from Japan HASEGAWA Makoto University of Michigan KIYOTA Kozo Research Institute of Economy, Trade and Industry Abstract The design of international tax policies, including whether and how to tax corporate incomes earned in foreign countries, has received a great deal of attention from policymakers and economists. The United States taxes foreign source income upon repatriation under the worldwide tax system and has long discussed changing the current corporate tax system to a territorial tax system that exempts foreign income from home taxation. Japan had a worldwide tax system similar to that in the United States, but moved to a territorial tax system by introducing a foreign dividend exemption in April 2009. This paper examines the effect of dividend exemption on profit repatriations by Japanese multinationals. We find that while the dividend exemption system stimulated dividend payments by foreign affiliates on average, their responses to dividend exemption were heterogeneous. Foreign affiliates not paying dividends under the worldwide tax system did not start to do so as a result of the legislation. On the other hand, dividend exemption increased dividend repatriations by foreign affiliates that had paid dividends under the worldwide tax system. We also find that more profitable firms paid larger amounts of dividends under the worldwide tax system and increased dividend payments further in the first year of the new exemption system.
    [Show full text]
  • Philanthropic Foundations and Development Co-Operation
    Philanthropic Foundations and Development Co-operation Philanthropic Foundations and Development Co-operation Off-print of the DAC Journal 2003, Volume 4, No. 3 www.oecd.org Philanthropic Foundations and Development Co-operation Off-Print of the DAC Journal 2003, Volume 4, No. 3 Development Assistance Committee ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT Pursuant to Article 1 of the Convention signed in Paris on 14th December 1960, and which came into force on 30th September 1961, the Organisation for Economic Co-operation and Development (OECD) shall promote policies designed: – to achieve the highest sustainable economic growth and employment and a rising standard of living in member countries, while maintaining financial stability, and thus to contribute to the development of the world economy; – to contribute to sound economic expansion in member as well as non-member countries in the process of economic development; and – to contribute to the expansion of world trade on a multilateral, non-discriminatory basis in accordance with international obligations. The original member countries of the OECD are Austria, Belgium, Canada, Denmark, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The following countries became members subsequently through accession at the dates indicated hereafter: Japan (28th April 1964), Finland (28th January 1969), Australia (7th June 1971), New Zealand (29th May 1973), Mexico (18th May 1994), the Czech Republic (21st December 1995), Hungary (7th May 1996), Poland (22nd November 1996), Korea (12th December 1996) and the Slovak Republic (14th December 2000).
    [Show full text]
  • Laws & Regulations on Setting up Business in Japan
    Laws & Regulations on Setting Up Business in Japan Preface The Japan External Trade Organization (JETRO) has long provided various resources for foreign businesses interested in setting up operations in Japan in order to promote FDI. "Laws & Regulations on Setting Up Business in Japan" is a JETRO booklet designed with the foreign business in mind, providing information on laws, regulations and procedures on registration of incorporation, visas, taxes, human resource management, and trademark and design protection systems. First published in October 2004, the 7th edition has now been revised to incorporate changes in these areas since then. It is our hope that this publication will serve as an excellent resource for companies planning to establish operations in Japan and will make doing business in Japan easy. Interested investors are also encouraged to visit our website at http://www.investjapan.org, which provides not only the same information as this booklet but also updates on amendments and other changes to investment-related systems and institutions. October 2012 Invest Japan Department Japan External Trade Organization (JETRO) Index SECTION 1 Incorporating Your Business SECTION 4 Human Resource Management 1.1 Types of operation in Japan ...................................... 4 4.1 Application of laws ................................................. 44 1.2 Comparison of types of business operation ............... 5 4.2 Recruitment ........................................................... 44 1.3 Procedures for registering establishment ................... 8 4.3 Labor contracts ...................................................... 45 1.4 Information listed in articles of incorporation ........... 12 4.4 Wages ................................................................... 48 1.5 Certificate on registered company information and 4.5 Legislation on working hours, breaks and days off ... 49 company seal registration certificate ....................... 13 4.6 Work rules ............................................................
    [Show full text]
  • Taxnotes International Volume 93, Number 8 ■ February 25, 2019
    ® Analysts does not claim copyright in any public domain or third party content. Tax All rights reserved. Analysts. Tax © 2019 taxnotes international Volume 93, Number 8 ■ February 25, 2019 Asia-Pacific Investment Fund Tax Structures by Stephen Banfield, Mark Gao, Peter Ni, Manuel Makas, Eric N. Roose, and Jay Shim Reprinted from Tax Notes Internaonal, February 25, 2019, p. 831 For more Tax Notes International content, please visit www.taxnotes.com. © 2019 Tax Analysts. All rights reserved. Analysts does not claim copyright in any public domain or third party content. COMMENTARY & ANALYSIS tax notes international® Asia-Pacific Investment Fund Tax Structures by Stephen Banfield, Mark Gao, Peter Ni, Manuel Makas, Eric N. Roose, and Jay Shim asserted its right to tax sales of offshore holding Stephen Banfield and Eric Roose are with Withers in Singapore and Tokyo, respectively; companies by Cayman funds under its indirect Mark Gao and Peter Ni are with Zhong Lun in transfer tax rules. Shanghai; Manuel Makas is with Greenwoods In addition to domestic tax legislation like in Sydney; and Jay Shim is with Lee & Ko in that, the OECD’s base erosion and profit-shifting Seoul. The authors are all with ALTA: Asia- project and multilateral instrument have Pacific’s Leading Tax Advisers. challenged conventional offshore structures that In this article, the authors focus on Singapore are primarily tax driven. Action 7 requires nations investment funds and how Asian-Pacific funds that sign on to the MLI to elect which test must be established in Singapore, or the traditional satisfied by taxpayers claiming treaty benefits.
    [Show full text]
  • Japan Tax Bulletin
    Japan tax bulletin Quarterly newsletter on important tax and business developments in Japan January 2009 In this issue 2009 Japan Tax Reforms Proposals In December of 2008, Japan’s liberal democratic party presented the outline for tax reforms expected to be passed in March 2009. The proposal was in line with the report issued in August 2008 by the Ministry of Economy, Trade, and Industry. Highlights of the 2009 reform proposals follow. (c) 2009 ASG Tax Corporation. All rights reserved. 2009 Japan Tax Reforms Proposals Foreign divid end exemption to be introduced For fiscal years beginning on or after April 1, 2009, exempt and credit for foreign taxes imposed on the foreign dividend exemption will replace the current dividends will no longer be available. indirect foreign tax credit with respect to certain dividends paid to a Japanese parent corporation The recipient parent corporation must hold 25% of from a foreign subsidiary. the foreign affiliate for at least a 6-month period preceding the date the affiliate’s payment obligation Currently, dividends received from foreign arises for dividend exemption to apply. If a lower subsidiaries are included in the taxable income of holding ratio for the purpose of obtaining a foreign the recipient parent. Relief from double taxation tax credit exists under an applicable tax treaty, the for the tax paid in the foreign jurisdiction is lower ratio will be used as the threshold. provided through a tax credit. Because Japan’s corporate rate is one of the highest in the world, Japan tax on the dividend typically exceeds the Corresponding changes to Japan’s CFC rules.
    [Show full text]
  • The Japanese Tax Reform and the Effective Rate of Tax on Japanese Corporate Investments
    This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Tax Policy and the Economy, Volume 3 Volume Author/Editor: Lawrence H. Summers, editor Volume Publisher: MIT Press Volume ISBN: 0-262-06126-0 Volume URL: http://www.nber.org/books/summ89-1 Conference Date: November 15, 1988 Publication Date: 1989 Chapter Title: The Japanese Tax Reform and the Effective Rate of Tax on Japanese Corporate Investments Chapter Author: John B. Shoven Chapter URL: http://www.nber.org/chapters/c10947 Chapter pages in book: (p. 97 - 115) THE JAPANESE TAX REFORM AND THE EFFECTIVE RATE OF TAX ON JAPANESE CORPORATE INVESTMENTS John B. Shoven Stanford University and NBER EXECUTIVE SUMMARY Japan is in the midst of reforming its national-level individual and corpo- ration income tax systems. Last year, it abandoned its large system of tax-free savings accounts and lowered individual marginal tax rates. A much more radical proposal is currently being advocated by the govern- ment and is well along the way toward passage in the Diet. The new proposal would significantly lower the statutory rate for the corporation income tax, lower individual rates further and increase the tax thresh- olds, tax capital gains on securities for the first time, and introduce a type of value-added tax. As a package, this would be the most important change in the Japanese tax system since 1950. This paper presents a brief summary of the Japanese income tax sys- tem and the changes in it that have been enacted or proposed.
    [Show full text]
  • Replacing Income Taxation with Consumption Taxation in Japan
    Journal of The Japanese and International Economies xxx (xxxx) xxx–xxx Contents lists available at ScienceDirect Journal of The Japanese and International Economies journal homepage: www.elsevier.com/locate/jjie Replacing income taxation with consumption taxation in Japan ⁎ Gary Hansena, Selahattin İmrohoroğlu ,b a UCLA, United States b Marshall School of Business, University of Southern California, United States ARTICLE INFO ABSTRACT Keywords: Over the past two decades, Japan has suffered from low economic growth and a large and growing debt to output Neoclassical growth model ratio. Furthermore, Japan anticipates significant increases in future government expenditures due to an aging Tax reform population. These problems have led Japan to introduce a consumption tax rate in an attempt to raise revenues, Japan and, more recently, to reduce the statutory corporate income tax rate to raise investment and output growth. In Government debt this paper we study the growth and welfare consequences of a reduction in income taxation in Japan along with increases in consumption taxation to stabilize the debt to output ratio. In particular, we consider various un- anticipated tax reforms using the model described in Hansen and İmrohoroğlu (2016). We find that while output per working age population is projected to be roughly constant between 2015 and 2021 in the benchmark equilibrium representing the status quo, under alternative policies considered, output could be as much as 15% higher by 2021. 1. Introduction adds to the fiscal imbalance. Fig. 1 displays the predicted time paths of the government purchases and transfer payments relative to GNP.2 Both In the last ten to twenty years, policy makers in Japan have con- series exhibit a clear positive trend over the next couple of decades.
    [Show full text]
  • Doing Business in Japan
    Doing Business in Japan 2021 （Ver1.2 ） AIC Tax Co. AIC Tax Co. Doing Business in Japan 2021 * Preface This pamphlet is brief explanation of tax and accounting system in Japan. It has been prepared in order to guide the person who is going to start his/her business in Japan. Every effort has been made to offer current, correct and clearly expressed information. This pamphlet reflects information current as of the end of April 2021. However, the information in the text is intended to afford general guidelines only. This publication is distributed with the understanding that AIC Tax Co. is not responsible for the result of any action taken on the basis of information in this publication, nor for any errors or omissions contained herein. Readers are encouraged to consult with a professional advisor concerning specific matters before making any decision. If you have any questions regarding tax and accounting, please contact us. We would be happy to help you. Issued: May 2021 AIC Tax Co. <Address> (Tokyo office) Tensho Minami-Aoyama Building 413, 2-4-15, Minami-Aoyama, Minato-ku, Tokyo 107-0062 TEL 0120-829-242 (+81-6-6292-0586 from outside Japan) FAX +81-3-6893-3924 (Osaka office) Wako-building 4F, 2-2-17,Shibata, Kita-ku, Osaka 530-0012 TEL +81-6-6292-0586 FAX +81-6-6292-0587 [email protected] https://www.aictax.com/en/ 1 AIC Tax Co. Doing Business in Japan 2021 * INDEX 1. Establishment -------------- 3 1) Organization form for foreign investors in Japan / 3 2) The report for corporate tax/ 7 2.
    [Show full text]
  • Taxation in Japan 2016
    Taxation in Japan Preface This booklet is intended to provide a general overview of the taxation system in Japan. The contents reflect the information available up to 18 November 2016. While the information contained in this booklet may assist in gaining a better understanding of the tax system in Japan, it is recommended that specific advice be taken as to the tax implications of any proposed or actual transactions. Further information on matters in this booklet can be obtained from KPMG Tax Corporation either through your normal contact at the firm or using the contact details shown below. KPMG Tax Corporation Izumi Garden Tower, 1-6-1 Roppongi, Minato-ku, Tokyo 106-6012, Japan Tel: +81 (3) 6229 8000 Fax: +81 (3) 5575 0766 E-mail: [email protected] Osaka Nakanoshima Building 15F, 2-2-2 Nakanoshima, Kita-ku, Osaka 530-0005, Japan Tel: +81 (6) 4708 5150 Fax: +81 (6) 4706 3881 Dainagoya Building 26F, 3-28-12, Meieki, Nakamura-ku, Nagoya 450-6426, Japan Tel: +81 (52) 569 5420 Fax: +81 (52) 551 0580 The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Contents 1 Taxation of Companies .....................................................
    [Show full text]