IMF: Report Looks at Japan’s Economic Position

31 January, 2022

On 27 January 2022 the IMF issued a report on Japan’s economy following consultations under Article IV of the IMF’s articles of agreement. The report notes that Japan’s economy has begun to recover from the pandemic following a supportive

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Japan signs exchange of notes on arbitration with Denmark

09 November, 2021

On 5 November 2021, the Japanese Ministry of Finance announced an exchange of notes with Denmark regarding the entry into force of the arbitration provisions in the 2017 income tax treaty between the two countries. Due to the exchange of notes, the

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OECD: Peer review reports under BEPS Action 14

17 April, 2021

On 15 April 2021 the OECD released peer review assessments under Action 14 of the project on base erosion and profit shifting (BEPS) which aims to make dispute resolution mechanisms more effective. These stage two monitoring reports relate to

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Japan enacts tax reform bill 2021

08 April, 2021

On 26 March 2021, Japan’s 2021 tax reform bills were passed by the Japanese National Diet. The Bill generally follows the tax reform outline announced by Japan’s coalition leading parties in December 2020. The amendments generally apply to

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Japan and Georgia enter into tax pact

07 February, 2021

On 29 January 2021, “Convention between Japan and Georgia for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance” (hereinafter referred to as the New Convention) was signed in

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Japan announces tax reform proposals for 2021

12 January, 2021

On 10 December 2020, the Liberal Democratic Party (LDP) and the New Komeito Party announced the tax proposals for the 2021 providing the following corporate tax measures. Either special depreciation of 30% or a tax credit of 3% or 5% tax

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Japan: Government plans to include loss carryforward relief

30 December, 2020

In order to offset the negative impact of the COVID-19 pandemic, the government is planning to include loss carryforward relief. Previously, the government introduced loss carryback relief for companies with common capital of up to JPY1 billion

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OECD: Revenue Statistics in Asian and Pacific Economies 2020

04 August, 2020

On 23 July 2020 the OECD published Revenue Statistics in Asian and Pacific Economies 2020. The publication presents important statistics tracking progress on domestic resource mobilisation to support tax policy and reform. This can assist countries

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COVID-19: Japan introduces special grace period for tax payments

31 July, 2020

On 29 July 2020, the National Tax Agency published the updated tax relief measures for taxpayers who face difficulty paying their national tax due to the influence of the novel coronavirus disease (COVID-19). Under this, a special grace period of

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Japan announces emergency economic measures in response to COVID-19 pandemic

12 April, 2020

On 7 April 2020, the National Tax Agency of Japan announced tax relief measures in response to the coronavirus (COVID-19) pandemic. For almost all national tax liabilities of legal or individual taxpayers for which payment due dates fall

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DTA between Ecuador and Japan enters into force

31 December, 2019

On 28 December 2019, the Double Taxation Agreement (DTA) between Ecuador and Japan was entered into force and applies from 1 January 2020. The DTA contains Dividends rate 5%, Interest rate 10%, and Royalties rate

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Japan: Government announces tax reform plans for 2020

24 December, 2019

On 12 December 2019, the Japanese government announced tax reform plans for 2020 providing new tax incentives to promote investment. The tax reform includes incentives to invest in 5G wireless technology, including a 15% tax deduction for

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DTA between Croatia and Japan enters into force

04 September, 2019

On 5 September 2019, the Double Taxation Agreement (DTA) between Croatia and Japan (2018) will enter into force. The treaty generally applies from 5 September 2019 for the provisions of article 25 (Exchange of Information) and article 26

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US: Protocol to income tax treaty with Japan enters into force

03 September, 2019

On 30 August 2019, the U.S. treasury department announced that protocol amending the convention between the government of the United States of America and the government of Japan for the avoidance of double taxation and the prevention of fiscal

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Japan: Parliament enacts tax reform plans for 2019

02 April, 2019

On 27 March 2019, Japan's parliament approved the legislation for the government's tax reform proposals for 2019. Some of the main measures are following: Tax incentive: As from 1 April 2019, the tax credit rates will be revised to enhance

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EU: Free trade agreement with Japan enters into force

30 January, 2019

The EU-Japan free trade agreement has been ratified by both parties and enters into force on 1 February 2019. Under the agreement certain goods originating in Japan for import into the EU or originating in the EU for export to Japan may be eligible

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Japan: MLI enters into force

03 January, 2019

On 1 January 2019, the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent BEPS (‘Multilateral Instrument’ or ‘MLI’) entered into force in respect of Japan. The MLI was signed by Japan on 7 June 2017. As of 1 October

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Japan proposes tax reform plans for 2019

31 December, 2018

On 14 December 2018, Japan's ruling coalition party has approved a package of tax reform proposals for 2019. The proposal includes amendments to Japan’s controlled foreign company (CFC), interest expense limitation, and general transfer pricing

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