Japan: Tax Reform Plan 2015 Submitted to the Diet
The bills for the proposed changes to the tax law as announced on 30 December 2014 were submitted to the Diet on 17 February 2015. The main Proposal for changes is summarized below: Corporation taxation: The corporate tax rate is reduced for
See MoreJapan: Trade review carried out by World Trade Organization
On 9 and 11 March 2015 the World Trade Organization (WTO) is conducting a trade review of Japan. The WTO Secretariat has prepared a report in connection with this review and this has been published on the WTO website. Japan has since 2012 been
See MoreJapan: Tax Reform Legislation Introduced
The Japanese Government submitted legislation to Parliament on February 17 2015, including the planned corporate tax cuts. As the Prime Minister previously had previously promised growth strategies, the Government plans to reduce the country's
See MoreJapan- Qatar: Income Tax Treaty Signed
The Japan - Qatar Income Tax Treaty (2015) was signed on 20 February 2015 in Tokyo. Once in force and effective, the treaty will replace the Japan - Qatar Transport Tax Treaty (2009). Further details of the treaty will be reported
See MoreQatar Approves Draft Income Tax Treaty with Japan
The Qatari government approved the signature for a draft income tax treaty with Japan on January 14th, 2015. This would be the first Income Tax Treaty between the two countries. However, it must be signed and ratified by both sides before entering
See MoreJapan Publishes New Consumption Tax Plans for Foreign E-services
Japan has published new plans to subject the supply by foreign providers of electronic services to their consumers to 8% Consumption Tax. This should come into place from 1 October 2015. Here is the summary of plans: Changes from the origin to
See MoreSixth round of trilateral FTA among China, Japan and South Korea
On January 18, 2015, the Ministry of Trade, Industry and Energy (MOTIE) of South Korea announced that the 6th round of negotiations for a trilateral free trade agreement (FTA) between China, Japan and South Korea was held in Tokyo, Japan on
See MoreEconomic Partnership Agreement between Japan and Australia enters into force
On January 15, 2015, the Japan-Australia Economic Partnership Agreement entered into force, opening up opportunities for increased trade and investment by Australia with Japan which is the third largest economy in the world and Australia’s second
See MoreJapan: Plans for an increase in Consumption Tax from April 2017
The government has confirmed that Japanese consumption tax will rise from 8% to 10% from 1 April 2017. This latest date was announced in the 2015 Tax Plan. The increase in the consumption tax rate was first scheduled for 1 October 2015, but was
See MoreJapan: Honda Succeeds in Transfer Pricing Case
The Tokyo District Court in the case of: Heisei 23 (2011) gyou-u No. 164 ruled on 28 August 2014 that, in using the residual profit split method, the profits to be attributed should include the special tax benefits enjoyed by the Brazilian
See MoreJapan: Tax Reform Plan for 2015
The government of Japan outlined its Tax Reform Plan for 2015 on 30 December 2014. The main changes are summarized below: – The corporate income tax rate will be reduced from 34.62% (2014) to 32.11% (2015) and 31.33% (2016). – Exemption for
See MoreJapan: Consumption Tax on nonresident providers of electronic services from 1 October 2015
Japan is moving forward with proposals to subject sales by non-resident providers of electronic services to consumers to the 8% Consumption Tax from 1 October 2015. The change comes as a result of pressure by local providers who are penalized by
See MoreIndia & Japan: First bilateral APA signed
The Central Board of Direct Taxes (CBDT) signed a bilateral Advance Pricing Agreement (APA) with a Japanese company on 19 December 2014. This is India’s first bilateral APA which has been signed for a period of 5 years. Moreover, CBDT was proud to
See MoreDTA between Qatar and Japan initialed
The Government of the State of Qatar and the Government of Japan have agreed in principle on the Agreement between the Government of the State of Qatar and the Government of Japan for the Avoidance of Double Taxation and the Prevention of Fiscal
See MoreHong Kong Exchanges Notes With Japan Regarding Exchange of Information
The Government of the Hong Kong Special Administrative Region (SAR) exchanged notes on 10 December 10 2014, with the Government of Japan regarding the Exchange of Information (EoI) Article in the double taxation agreement between the Hong Kong SAR
See MoreDTA between Japan and UAE
Japan and United Arab Emirates signed an Income Tax Treaty (2013) on 24 November 2014 and will be applicable from January 1, 2015. Details of the treaty will be reported
See MoreJapan Seeks Corporate Tax Cut In 2015
Japan's Minister of Economy, Trade and Industry has stated that his objective is to reduce the country's corporate income tax rate by at least 2.5% next year. Earlier this year it was agreed that a preliminary corporate tax rate cut will be included
See MoreUK-Japan: Protocol to existing treaty enters into force very soon
The existing Income Tax Treaty between Japan and the UK will enter into force on December 12, 2014 followed by an exchange of diplomatic note on November 12, 2014. The protocol was previously signed on December 17, 2013. It includes provisions
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