taxation

JTPP Quarterly News Alert

JTPP Helpdesk publishes a quarterly News Alert with news on the latest developments concerning taxation and public procurement in Japan. Below are past issues of the Alerts.  Click here to subscribe to future issues of the JTPP Quarterly Email Alert.

 

Checked on: April 2016

Tokyo to speed up its assessment of real estate value for fixed assets taxation

The Tokyo Metropolitan Government (TMG) will enter talks with the Ministry of Internal Affairs and Communications (MIC) for a review of its procedures for assessing buildings to determine fixed assets tax. It will look into changing the current method to determine the costs of assets into a simpler method in order to give business owners a quicker insight into their tax liabilities. The aim is that MIC will change the evaluation standards, and introduce the simpler method nation-wide from 2020.

 

Change in SME definition for tax benefits to close loophole used by large companies

As part of its tax policy for 2017, the Japanese government  plans to revise the tax system that givies preferential treatment to SMEs. Currently, companies with a capital smaller than 100 million yen (€721,000) enjoy lower tax rates. Much larger companies Japanese companies have enjoyed preferential tax rates by keeping their capital base small. This loophole was thrust in the limelight, when struggling electronics giant, Sharp was reported to consider its capital to under the 100 million threshold to enjoy a more favourable tax climate, reserved for SMEs.

“My Number”: Japan introducing Social Security and Tax number System from January 2016

The Japanese government is currently busy preparing for the new social security and tax number system nicknamed “My Number”.  In October 2015 every person possessing residence records in Japan will receive a notification card with their unique individual number, which is send to the last known address in the country’s resident records.

 

Article: Opportunities in the Japanese Public Procurement Market

Article written by Lyckle Griek

What are your opportunities in Japanese Public Procurement?

Do the JTPP Quick Scan!

Getting to know your market is one of the more difficult issues which you must resolve before venturing into a new overseas market.  Basic questions such as “Is there a market for my products?”, ”Who would buy them?” and “Are my prices competitive?” are usually the first that come to mind.

Subscribe to RSS - taxation