2022/03/15 1 min read
When dissolving an insolvent Japanese subsidiary, an unexpected tax charge may arise unless the subsidiary’s tax positions are reviewed and appropriate legal procedures are taken.
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Revenue recognition is a key performance metric affecting financial figures. This article explores examples of differences between accounting and tax treatment in Japan.
Japan has introduced a new documentation preservation regime applicable to specified related-party transactions undertaken in fiscal years beginning on or after 1 April 2026. The provisions in the regime requires taxpayers to obtain or prepare and preserve supplementary documentation where the records already maintained for a covered related-party transaction do not contain the prescribed information concerning the transaction and the calculation of the consideration.
This article introduces the Business Office Tax, which needs to be considered when entities conduct business in offices or workplaces within cities with a population of 300,000 or more.
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