Japan is one of the early adopters of the OECD’s 15 percent global minimum tax proposal (also commonly known as GLoBE). In March, the Japanese Diet legislated the 2023 tax reform package setting out the basic framework for a global minimum tax, followed by governmental and ministerial regulations issued by the Cabinet and the Ministry of Finance in June 2023. Continue Reading
Japan
Transfer pricing news, BEPS news, and international tax news in Japan
Japan, Algeria sign tax treaty
Japan and Algeria signed a tax treaty on February 7.Continue Reading
Global minimum corporate tax rate should be 15 percent: US Treasury
The US Treasury expressed its belief that the international tax architecture must be stabilized, that the global playing field must be fair, and that we must create an environment in which countries work together to maintain our tax bases and ensure the global tax system is equitable.Continue Reading
OECD releases new MAP peer review reports
The reports evaluate the progress made by these eight jurisdictions in implementing any recommendations resulting from their stage 1 peer review. They take into account any developments in the period January 2018- August 2019 and build on the MAP statistics for 2016-2018.Continue Reading
Tax treaty between Japan, Morocco signed
The tax treaty will become effective after both countries have completed their respective domestic procedures.Continue Reading
Japan, Peru to conclude a tax treaty
Japan and Peru have “in principle” agreed to conclude a tax treaty.Continue Reading
US releases details about tax treaty protocols with Japan, Spain
Mandatory binding arbitration clause is included in the tax treaty protocols to resolve tax treaty disputes.Continue Reading
Indian tax authority undergoing ratification process for BEPS MLI
Important process of ratifying the BEPS MLI is on. In 2019-2020, the provisions will come into effect, says Akhilesh Ranjan.
Continue ReadingQatar signs BEPS Multilateral Instrument to tackle tax avoidance
Qatar is the 85th jurisdiction to sign the BEPS Convention, which now covers nearly 1,500 bilateral tax treaties.Continue Reading
New Japan, Spain Tax Treaty to Include MAP Arbitration
Japan and Spain signed a new tax treaty on October 16. The tax treaty wholly amends the existing tax treaty between Japan and Spain, which entered into force in 1974.
As per the new tax treaty, a withholding tax exemption applies to investment income from interest and royalties. Withholding tax on dividends is also exempt in certain situations.Continue Reading
Japan, Croatia Sign New Tax Treaty
Japan and Croatia signed a new tax treaty on October 19.
The new tax treaty provides for a reduced withholding tax on dividends, interest, and royalties. In some case, these are exempt.Continue Reading
Mutual Agreement Procedure Statistics Published for 2017
The OECD on October 10 published its 2017 mutual agreement procedure (MAP) statistics covering 85 tax jurisdictions.
According to the 2017 MAP statistics, new transfer pricing MAP cases are up by 25 percent and other MAP cases by 50 percent. Anecdotal evidence suggests that the increase in new MAP cases is due to a range of factors including the effects of the new reporting framework and increased awareness of and expectations from taxpayers about MAP, the OECD noted.Continue Reading
Japan-Iceland Tax Treaty to Take Effect From January 2019
The tax treaty between Japan and Iceland will enter into force on October 31, 2018, Japan’s Finance Ministry has announced.Continue Reading
More Countries Ratify BEPS Convention
Australia, France, Japan, and the Slovak Republic have deposited their instruments of ratification of the OECD’s Multilateral Convention to implement tax treaty-related measures to prevent base erosion and profit shifting (BEPS).
For these four countries, the BEPS Convention would enter into force from January 1, 2019. The Convention entered into force last month for New Zealand, Serbia, Sweden, and the UK.Continue Reading
BEPS Convention to Enter into Force in Japan from January 2019
The author is Alex Hunter, Editor, TP News. He oversees and updates the publication and also regularly writes news stories about transfer pricing and international tax law. Alex is reachable on email (editor@transferpricingnews.com) and by phone (+447808558597).
Japan on September 26 deposited to the OECD the instrument of acceptance of the Multilateral Convention to implement tax treaty-related measures to prevent base erosion and profit shifting.
The BEPS Convention will enter into force for Japan on January 1, 2019.Continue Reading
MAP Peer Review Reports Out for Australia, Ireland, Japan, Five Others
The author is Alex Hunter, Editor, TP News. He oversees and updates the publication and also regularly writes news stories about transfer pricing and international tax law. Alex is reachable on email (editor@transferpricingnews.com) and by phone (+447808558597).
The OECD on August 30 published stage 1 mutual agreement procedure (MAP) peer review reports of the following eight jurisdictions: Australia, Ireland, Israel, Japan, Malta, Mexico, New Zealand, and Portugal.Continue Reading
Tax Treaty between Japan, Colombia: Negotiations Completed
Japan and Colombia have completed tax treaty negotiations, Colombia’s Finance Minister, Mauricio Cárdenas, announced on July 30.Continue Reading
Japan, Spain Agree to Sign New Tax Treaty
Japan and Spain have agreed in principle to the text of a new tax treaty.
The new tax treaty will replace the existing treaty between both countries, which entered into force in 1974.Continue Reading
UK, US, Six Others Launch Multilateral Tax Risk Assurance Program For MNEs
The author is Alex Hunter, Editor, TP News. He oversees and updates the publication and also regularly writes news stories about transfer pricing and international tax law. Alex is reachable on email (editor@transferpricingnews.com) and by phone (+447808558597).
Eight tax administrations, including the UK and the US, have launched a pilot program for the multilateral risk assessment of multinational corporations.Continue Reading