Tohoku Earthquake Restoration Surtax implemented [PDF 163KB]
On December 2, 2011, “Special Measures to Secure the Financial Resources to Implement the Restoration from the Tohoku Earthquake” (“Special Tax Bill”) was promulgated and become effective on April 1, 2012. This Japan Tax Update discusses about the key points of the implementation of the surtax for the corporate taxpayers.
Tax Legislation Update for 2012 Tax Reform (Part 4) [PDF 153KB]
On August 10, 2012 the “Tax Hike Bill” related to social security reforms was approved in the upper house of the Japanese Diet. Since the bill was submitted to the Diet on March 30, 2012, various political debate occurred with regard to the proposed amendments to the Consumption Tax Law, which delayed passage of the bill. This Japan Tax Update provides a summary of the amendments in the Tax Hike Bill.
Reporting requirements for share based compensation [PDF 109KB]
Under the 2012 Tax Reform, new reporting requirements were introduced if employees of a Japanese subsidiary or Japanese branch of a foreign company receives share based compensation from a parent company. This Japan Tax Update provides details of the reporting requirements pursuant to the reporting format released on the web site of the National Tax Administration Agency.