Zeirishi-Hojin PricewaterhouseCoopers - Our Code of Conduct

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March 2007

Zeirishi-Hojin PricewaterhouseCoopers provides services according to the Code of Conduct described below.

The Tax Code of Conduct

The main purpose of our services is to help clients meet their obligations for tax payments in the proper manner. Our mission is “to act in accordance with the trust put in us as tax professionals by taxpayers from an independent and fair perspective taking into account the principles of the self-assessment system, and to help taxpayers meet their tax obligations provided by the tax laws and regulations (Article 1 of the Licensed Tax Accountant Law).” To fulfill our mission, we consistently strive to provide tax services in accordance with the following five principles:

  1. We shall maintain integrity and objctivity.

    We will always keep in mind that establishing a relationship of trust with clients and tax authorities should be given the utmost priority taking into account each individual’s responsibilities and personal characteristics. We shall strive to maintain our professional manner while still retaining our human touch. In line with our public roles and responsibilities, we shall not only comply with tax laws and related regulations, but also shall make confident and sincere judgments based on truth and reason. Furthermore, we shall not become involved with transactions which may impair the objectivity of our advice.

  2. The tax advice we provide shall be supported by tax laws and related regulations.

    In preparing tax returns and providing tax advice for our clients, our judgment shall always be based on the tax laws and related regulations. We shall investigate and refer to tax laws related regulations, as well as past legal interpretations, to the greatest possible extent. In cases where different legal interpretations exist with regard to the tax laws and related regulations, we shall inform the client and shall respect their decision to choose among these interpretations.

  3. Our tax advice shall be based on factual information that has been fully disclosed.

    We provide our tax advice based on the assumption that the factual information is fully and properly disclosed by the client. Factual information becomes the basis for our judgment.

  4. We shall provide tax advice based upon a thorough understanding of the facts and circumstances of the client.

    We shall do our best to understand the client’s business and transactions before providing tax advice. That means we shall not provide any tax advice that does not suit the facts and circumstances of the client. We shall also try to help the client to fully understand the commercial and tax-related risks of their actions, including risks that might impair the client’s reputation with third parties (e.g., shareholders, regulators, tax authorities, etc.). In order to satisfy this principle, we shall conduct full discussions with the client before recommending a particular course of action.

  5. We shall consistently educate ourselves in order to obtain a thorough understanding of complicated tax laws and regulations.

    Tax laws and related regulations are always changing and becoming more complex as they respond to changing economic transactions and conditions. In order to provide proper tax advice to the client on a consistent basis, we shall make every effort to familiarize ourselves with the tax laws and related regulations and shall fully and properly make use of our technical knowledge and skills.