PwC Japan Tax Update 2008

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Issue 43
Proposed 2009 Tax Reform [PDF 167KB]
This issue exclusively deals with the draft proposed outline of the 2009 tax reform.
  • International taxation
  • Tax incentives for small-medium sized companies
  • Finance industry related amendments
  • Land taxation
  • Special credit for acquisition of houses, etc.
  • Other corporate taxation
  • Inheritance tax
Issue 42
Recent Tax Court Rulings 
[PDF 36KB]

Due to the increase in the number and complexity of cross border transactions, Japanese Tax Tribunal and court cases are starting to deal with tax issues associated with such transactions. This issue introduces three recent court rulings.
Issue 41
Proposed Introduction of Foreign Dividend Exemption System 
[PDF 75KB]

As a major item of the Tax Reform Request for FY 2009, it has been proposed that a new exemption rule for dividends received by Japanese corporations from foreign subsidiaries should be enacted.
Issue 40
New Rules VAT Package Applicable as of 1 January 2010 
[PDF 90KB]

A big revision is about to be performed for the VAT rule on intra-Community supply of services. Following the agreement of European Council on the framework of these new regulations, Committee of Ministers passed the so-called ‘VAT package’ on 20 February 2008. The final adoption of the VAT package will certainly bring about a revolution for businesses engaged in cross-border trade.
Issue 39
Outline of 2008 Tax Reform [PDF 103KB]
This Newsletter provides the outline of the 2008 tax reform effective on April 30.
  • Corporate Taxation
  • Tax Incentive Plans Applied to Small-medium Sized Company
  • Transfer Pricing Legislation
  • Tax System on Finance and Corporate Securities
  • International Taxation
  • Taxation related to TMK and Investment Corporation
  • Inheritance Tax
  • Other Amendments (Deduction for contributions, Local taxes, Registration tax for transfer of land, and so on)
Issue 38
Amended Tax Treatment of Finance Lease Transactions (Shoyuken iten gai lease transactions) and Inventory Valuation in line with the Revised Accounting Standards 
[PDF 36KB]

This Newsletter summarizes the main points of the 2007 tax reform on finance lease transaction and inventory valuation.
Issue 37
The Special Taxation Measures Law portion of the Proposed 2008 Tax Reform 
[PDF 29KB]

This Newsletter provides an outline of some of the more important items included within the Draft Reform and their status in the Transitional Tax Reform Laws.
March, Issue 36 Tax Deductible Remuneration Paid to Directors [PDF 48KB]
This Newsletter updates our earlier publication of Japan Tax Update released in June and July 2007 on the tax implications of director remunerations and payments.
February, Issue 35 The New Convention between Japan and France for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion and Fiscal Fraud with respect to Taxes on Income [PDF 50KB]
A Protocol to amend the Convention between Japan and France for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion and Fiscal Fraud with respect to Taxes on Income became effective on December 1, 2007.
The new rules on the withholding tax are effective for payments made from January 1, 2008.
January, Issue 34 Proposed 2008 Tax Reform
(Please refer to Issue 39)