Japan’s 2016 tax reform was enacted on 29 March 2016 and at the end of April 2016, the National Tax Agency posted guidance on its website to help clarify the documentation requirements within Japan. The tax reform also implements penalties for a failure to file the CbC report by the due date which is up to a maximum of JPY300,000. This penalty can be levied on the representative, proxy or responsible employee, and additionally on the company itself.