Archive for November 23rd, 2010

Introduction to TMK taxation – the Japanese real estate SPC

November 23, 2010  |  Entities, Real Estate, TMK  |  No Comments

Detail taken from a 'mikoshi' or Japanese portable shrine kept for use in local festivals.

The ‘TMK’ (in Japanese the ‘特定目的会社’ or ‘tokutei mokuteki kaisha’ )、a special purpose entity commonly used in Japanese real estate transactions, is regarded as having a corporate nature for Japanese tax purposes and hence is taxed as a corporation rather than as a fiscally transparent entity.

However, a number of special tax provisions apply to the entity introduced in order to help promote the securitization of assets held under the TMK structure. Read More