Dbriefs Podcasts Deloitte Dbriefs Asia Pacific

In the 2024 tax reform proposals, Japan's Ministry of Finance announced its intention to introduce changes to the current factor-based enterprise tax regime. In this episode of The Japan Perspective, Deloitte Japan’s tax professionals Joanna Hazel and Ken Leong examine the recent reforms to the factor-based enterprise tax system. The discussion highlights the closure of certain loopholes in the current legislation and sheds light on the implications for Japanese subsidiaries of multinational enterprises who are faced with navigating these changes.
The Japan Perspective is Deloitte Japan’s podcast series committed to communicating the latest Japanese tax developments and their potential impact on foreign multinational companies operating in Japan.

In the 2024 tax reform proposals, Japan's Ministry of Finance announced its intention to introduce two new tax incentives for strategic investment and innovation, and proposed amendments to the existing carbon neutrality incentive, as follows:
• Strategic investment: Aimed at encouraging corporate investment in digital transformation, green transformation, and economic security. The government has identified five key products crucial for Japan's global competitiveness.• Innovation box: Targets intangible properties like patents and covers intellectual property transfers and license transactions, with certain limitations.•Carbon neutrality: Would extend incentives for two more years, with revisions focused on direct contributions to improving a company's carbon productivity. Eligible assets would be refined to prioritize investments with a more direct impact on carbon neutrality.
In this episode of The Japan Perspective, Deloitte Japan's tax professionals Joanna Hazel and Masaaki Miura emphasize Japan's alignment with global trends, its commitment to aggressive carbon reduction goals, and the benefits for companies aligning their strategies with the evolving incentive landscape. The Japan Perspective is Deloitte Japan’s podcast series committed to communicating the latest Japanese tax developments and their potential impact on foreign multinational companies operating in Japan.

In the 2024 tax reform proposals, Japan's Ministry of Finance announced its intention to introduce changes to the taxation of online platforms as from 1 April 2025.
In this episode of The Japan Perspective, Deloitte's tax professionals Joanna Hazel and Nicole Baxter discuss the new tax and explore the significant changes set to take effect in 2025. The discussion offers an insight into the necessary compliance requirements and highlights the impact that the new tax will have on both platform operators and foreign digital service providers.
The Japan Perspective is Deloitte Japan’s podcast series committed to communicating the latest Japanese tax developments and their potential impact on foreign multinational companies operating in Japan.

Japan’s ministry of finance announced in mid-December 2023 proposals for the 2024 tax reform, which include a range of domestic and international measures.
In this episode of The Japan Perspective, which is the first in a series of episodes on the 2024 tax reform, Deloitte Japan’s tax professionals, Joanna Hazel and Brian Douglas, discuss the 2024 tax reform proposals that were announced by the government and break down the three main themes of the proposed reforms: bridging the gap between inflation and slow wage growth, encouraging companies to invest in Japan, and ensuring compliance.
Specific discussions include changes to the local enterprise tax (addressing issues related to large companies and subsidiaries), proposals around Japanese consumption tax (including platform taxation), and new proposed incentives for strategic goods production and IP-related endeavors.
Please register for Deloitte Japan’s upcoming 15 February 2024 webcast discussing the 2024 tax reform proposals in more depth to stay ahead of the tax reform curve.
The Japan Perspective is Deloitte Japan’s podcast series committed to communicating the latest Japanese tax developments and their potential impact on foreign multinational companies operating in Japan.

The world is changing, and so are businesses. The new leaner business organisations look at factors, internal and external, for improving productivity and reducing work cycles and costs while doing so. These can be achieved by channelling resources in core business operations and outsourcing non-core processes such as TP compliance. TP Operate manages an organisation's end-to-end transfer pricing compliances to generate insights and achieve efficiencies in operations and costs.
Watch our leaders, Jun Sawada, Partner, Tax, Deloitte Japan, Tarun Arora, Partner, Tax, Deloitte India, and Carlo Navarro, Partner, Tax, Deloitte Southeast Asia, share their views on TP Operate, elaborating on how it can assist in smarter decision-making, improving efficiencies, and driving operational readiness.

Japan has implemented a qualified invoice system (QIS) as from 1 October 2023, which imposes new documentation requirements on businesses operating in Japan. Failure to comply with the QIS rules may affect an entity’s ability to claim an input Japanese consumption tax (JCT) deduction.
In this episode of The Japan Perspective, host Joanna Hazel and guest Nicole Baxter, a senior manager in Deloitte Japan’s Indirect Tax group, discuss the effect of the QIS on businesses operating in Japan, providing valuable insights into the challenges faced by buyers and suppliers, and detailing the potential consequences of not holding valid qualified invoices under the new QIS rules. This episode also explores the range of preparation undertaken by affected businesses, from those with a full 12 months of review and planning, to others, particularly in the digital services sector, that are only now reviewing their supply chains.
The conversation then shifts to recent developments in online platform taxation in Japan. Nicole shares insights from a Ministry of Finance study group, which indicates that platform operators are likely to be responsible for collecting JCT on business-to-consumer sales of digital services made by foreign suppliers through online platforms. Other key points include deeming the platform operator as the seller and not imposing a sales threshold on the seller.
The podcast concludes with a brief update on changes to eligibility around claiming import JCT. Nicole explains a clarification issued in June 2023 as to the determination of the importer when there is no underlying import transaction and emphasizes the retroactive application of this clarification to open fiscal years.
The podcast offers valuable insights into these tax developments, ensuring businesses stay informed about the evolving Japanese indirect tax landscape.
The Japan Perspective is a podcast series committed to communicating the latest Japanese tax developments and their potential impact on foreign multinational companies operating in Japan.