On the 11th February the Asahi Newspaper reported on the progress of 2011 tax reform proposals introducing tax preferences for certain foreign groups establishing subsidiaries in Japan (below the ‘Asian Base Promotion’ proposals and in Japanese the ‘アジア拠点化推進法案’ or ‘ajia kyotenka suishin houan’). Read More
On 5 December 2010 the Asahi Shimbun reported on an investigation by the Tokyo tax authorities into tax relief claimed on losses from a partnership investing in US real estate. The investors in the partnership (below the ‘Investors’) were, according to the article, a group of around ten former Japanese baseball players Read More
the 15th of November, 2010, Mr. Seiji Maehara for the Government of Japan and Mr. Ibrahim Al-Assaf for the Government of the Kingdom of Saudi Arabia the text of the new double taxation convention between the Government of Japan and the Kingdom of Saudi Arabia (below the ‘Treaty’). A link to the English text of the Treaty can be found here. Read More
On 9 November 2010 the Secretary for Financial Services and the Treasury of Hong Kong, Professor K C Chan and The Consul-General of Japan in Hong Kong, Mr. Yuji Kumamaru, signed the text of the much anticipated Hong Kong/Japan tax treaty (below the ‘Treaty’). Read More
On 2 November 2010 the Nikkei Keizai Shimbun reported on a 2011 tax reform proposal to extend the period allowed for tax payers to resubmit tax returns that request a repayment of tax. Read More
On Thursday 21 October 2010 the Nikkei Keizai Newspaper reported that the Japanese government was considering introducing preferential tax rates for foreign companies investing into Japan, lowering the corporation tax rate between 10 to 15 percentage points over a five year period. Read More
The Asahi Newspaper reported on 30 September 2010 that, by 29 September 2010, the Japanese tax authorities had received responses to many of their requests for information from the Cayman Island tax authorities.