PwC Japan Tax Update 2012

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2012

November
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.
August
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.
July
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.
April
Tax Legislation Update for 2012 Tax Reform (Part 3) [PDF 214KB]
This Japan Tax Update provides a summary of the proposed changes contained in the “2012 Tax Reform” and “Tax Hike Bill”.
February
Response to the OECD’s discussion draft on Article 5 (Permanent Establishment) the OECD Model Tax Convention [PDF 150KB]
On 12 October 2011, the OECD released a public Discussion Draft entitled “Interpretation and Application of Article 5 (Permanent Establishment) of the OECD Model Tax Convention”.
The Discussion Draft proposed a number of changes affecting the application of the treaty rules which deal with the circumstances in which a taxable presence or ”permanent establishment” may be created.
Updates on the status of Tax Treaties/Agreements [PDF 151KB]
This Japan Tax Update provides a summary of the tax treaties/agreements that entered into force or were signed by Japan government since January 1, 2011.