Japan: Amendments of Tax Treaty Protocol with Sweden has been Signed
It has been published on 5 December 2013 that the governments of Japan and Sweden have signed a Protocol amending the current tax treaty between the two countries. The main amendments are as follows: ・Expansion of the scope of exemption of taxes
See MoreJapan: tax reform outline announced
The Japanese government has officially decided to increase the rate of consumption tax from the current 5% to 8% with effect from 1 April 2014. It has also delivered a five-trillion yen (US$50B) economic stimulus policy that aims to alleviate
See MoreJapan: Changes to consumption tax and corporate income tax
The Japanese government officially announced on 1st October 2013 its plan to modify “consumption tax” and “corporate income tax”. The highlights of the plan are summarized below: Consumption tax: In the period between 1 April 2014 and 30
See MoreOECD: Welcomes Japanese tax increase
Recently, the Secretary General of the Organization for Economic Cooperation and Development (OECD) has welcomed the announcement by Prime Minister on 7 October 2013 that, the nation will increase its consumption tax from its current 5% levy to 8%
See MoreJapan: Published Fiscal Incentive Package
Japanese Prime Minister has confirmed on 4 October 2013 that, the Government is to provide a fiscal stimulus package to counteract the declining effects of a 3 percent consumption tax rate rise due next year. He also disclosed on 1st October
See MoreJapan: Convention and protocol on Mutual Administrative Assistance in Tax Matters enters into force
The multilateral Convention on Mutual Administrative Assistance in Tax Matters, as amended by the 2010 protocol on 1st October 2013 which entered into force in respect of Japan. The Convention and the amending protocol generally apply from 1
See MoreDTA between New Zealand and Japan Boosts Trade
The New Zealand Revenue Minister has exchanged diplomatic notes for tax treaty with Japan for reduces taxobstruction to the cross-border trade and investment. This reconsidered agreement will help the tax authorities recognize and prevent tax
See MoreJapan: Planning to relax the Corporate Tax Relief Measures
Japan’s Prime Minister has requested that his Government should take account of tax incentives for the corporate part along with relax the economic impact if he adopts to proceed with the consumption tax hike due in April next year. It is also
See MoreTIEA between Japan and Guernsey entered into force
The mutual ratification procedures were completed for entry into force of the “Agreement between the Government of Japan and the Government of Guernsey for the Exchange of Information relating to Tax Matters and the Avoidance of Double Taxation
See MoreJapan: Changes in customs Valuation regulations
The customs valuation regulation has been changed in Japan. The valuation is based on the transaction value in line with World Trade Organization (WTO) rules but the change in the regulations clarifies the issue of which particular transaction is to
See MoreTreaty between Japan and Portugal enters into force
The governments of Japan and the Portuguese Republic signed an income tax treaty in December 2011. The mutual notifications of the completion of the necessary domestic procedures were completed on 28th June 2013 and in accordance with Article 28 of
See MoreJapan: 2013 tax reform bill has been passed
Japan’s 2013 tax reform bill passed on 29 March 2013 and the key changes are related to corporate taxation. They include the introduction of a tax credit for increased salaries paid to employees; the introduction of a tax credit / special
See MoreJapan: For 2013 tax reform proposals
The Tax Commission of Japan has submitted 2013 tax reform proposal on January 29, 2013 upon approval by the Cabinet. The suggested reform will be submitted to the Diet during February 2013 for consideration. The proposed main changes are summarized
See MoreTreaty between China (People’s Rep.) and Japan applies to new Japanese taxes
The State Administration of Taxation (SAT) stated in Gong Gao No.49, that, Chinese and Japanese tax authorities have agreed after consultation that the taxes to which the China (People's Rep.) - Japan Income Tax Treaty applies include the Special
See MoreNew Income Tax Treaty between New Zealand and Japan
New Zealand and Japan have recently signed an Income Tax Treaty which will replace the existing Japan-New Zealand Income Tax Treaty that was concluded in 1963. The updated agreement will come into force once both countries have completed
See MoreMeasures on Business Centers passed
The Bill on Measures for Asian Business Centers was passed by the Diet on 27 July 2012. This measure is intended to encourage global companies to establish their R&D centers and Asian headquarters in Japan. The legislation grants incentives
See MoreLiechtenstein and Japan Sign TIEA
It was reported on 10 July 2012 that Liechtenstein’s Prime Minister and Japan’s ambassador have recently signed in Vaduz a bilateral tax information exchange agreement (TIEA) in accordance with the Organization for Economic Cooperation and
See MoreNew Zealand and Japan have agreed to update their existing bilateral DTA
New Zealand and Japan have agreed in principle to update their existing bilateral double taxation agreement (DTA), the New Zealand government announced on June 29,
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