Significant 2012 deferred tax write downs for Japanese companies

May 31, 2012  |  Developments, News  |  No Comments

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On the 30th of May, 2012, the Nikkei Newspaper reported on the extent to which leading Japanese companies were required to mark down deferred tax assets for Japanese financial reporting purposes in the year to 31 March 2012.

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Audits of Japanese Corporate Reorganizations.

August 28, 2011  |  Developments, News  |  No Comments

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In recent months the Japanese specialist tax press has reported on the increasing number of Japanese tax audits focusing on Japanese tax preferred corporate reorganizations (below “Japanese TPCRs’) . Please see the corporate reorganization section for details Read More

Passage of 2011 tax incentives for foreign companies progresses

February 22, 2011  |  Developments, News  |  No Comments

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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

Authorities challenge real estate loss deduction

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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 New Saudi Arabia, Japan tax treaty

November 24, 2010  |  Developments, News, Tax Treaties  |  No Comments

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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

The new Hong Kong, Japan tax treaty

November 10, 2010  |  Developments, News, Tax Treaties  |  No Comments

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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

Proposed extension of period to re-file a tax repayment claim

November 2, 2010  |  Developments, News  |  No Comments

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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

Corporate tax rate reduction and other 2011 tax proposals

October 26, 2010  |  Developments, News, Policy, Uncategorized  |  No Comments

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On 26 and 25 October the Nikkei Keizai Shinbum reported on the status of a number of 2011 tax reform proposes following the most recent meeting of the Japanese Tax Commission (税制調査会 link in Japanese) on 25 October.  Key points of discussion included lowering the Japanese corporate tax rate Read More

2011 Japanese tax incentives targeting foreign investors?

October 22, 2010  |  Developments, News, Policy  |  No Comments

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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

First results from Japan, Cayman Islands information exchange

October 1, 2010  |  Developments, News  |  No Comments

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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.

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