Japan Tax & Legal Inbound podcast/webcast Series

What’s the Dbriefs podcast/webcast?

Deloitte’s Dbriefs podcast/webcasts is a regular video/audio news podcast/webcast series that focuses on the latest tax and law news and developments that could affect your business.

Webcast: Optimizing tax operations - evolving challenges require innovative solutions

Foreign multinational enterprises operating in Japan must react to a number of issues that make it increasingly challenging to deliver tax operations internally in an effective and cost-efficient manner. A shrinking talent pool of qualified personnel is exacerbated by the need for bilingual practitioners who are equipped to work in international business environments. In addition, rapid technological advances and a constantly evolving regulatory landscape require significant investment, putting pressure on companies to allocate additional resources to information technology, and employee training. These challenges are leading companies to re-evaluate traditional approaches to managing tax functions and to seek out more sustainable and efficient solutions. They need to ensure they have access to the right expertise, technology, and resources to navigate this complex landscape effectively.

In this episode of The Japan Perspective, David Bickle, partner in Deloitte Japan’s Business Tax Services group, discusses some of these challenges for companies operating in Japan. In particular, the Tax Operate model, and the cost and efficiency considerations confronting CFOs and tax directors responsible for procuring the capability to deliver tax operations in the current business climate.

Webcast: Navigating the Japanese incentives landscape

The Japanese government has earmarked foreign direct investment as critical for economic growth, announcing a goal of JPY 100 trillion of foreign direct investment by 2030, and offering incentives and subsidies to foreign companies at both the national and local level.

Designated specific areas for strategic support include tax incentives and subsidies related to investments in carbon neutrality, large-scale investments in certain regional areas by small and medium-sized enterprises, and investments related to innovation. Although some of these tax incentives and subsidies to encourage investment have been available for a number of years, the utilization rate among foreign companies generally has been low.

In this episode of The Japan Perspective, Masaaki Miura, partner in Deloitte Japan’s Gi3 (Global Investment and Innovation Incentives) group, discusses the grants and incentives landscape in Japan, Deloitte Japan’s Incentive Insights tool, and some options for foreign companies looking to benefit from the available incentives.

For more information on Japan Incentive Insights, Please visit; https://japan-incentive-insights.deloitte.jp/

Webcast: Recent changes to the consumption tax rules affecting foreign companies

As part of Japan’s 2024 tax reform, several measures were introduced to the Japanese consumption tax (JCT) regime that are designed to tighten the rules around the prescribed tests to determine whether an entity is a JCT payer or a JCT exempt enterprise. In addition, changes were made that require certain foreign companies without a permanent establishment in Japan to calculate their JCT liability based on actual input and output tax amounts, rather than on the simplified taxation system or small to medium-sized business exemption. The new measures apply to tax periods beginning on or after 1 October 2024.

In this episode of The Japan Perspective, Nicole Baxter, a director in the indirect tax group at Deloitte Japan, discusses these recent changes to the JCT rules and how they affect foreign companies doing business in Japan.

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.

Webcast: Playing your best card-Navigating tax audits in Japan

The number of field audits in Japan have been increasing each year and getting back to numbers seen prior to the COVID-19 pandemic. Foreign multinationals will likely face a tax audit in the near future (if not already) and while tax audits are expected to result in disagreements between the company and the tax authority, it is generally in the best interest of the company to try and resolve those differences during the tax audit.

In this episode of The Japan Perspective, Yutaka Kitamura, Tax Controversy Leader, DT Legal Japan, provides an overview of a typical tax audit in Japan and discusses the options available to a taxpayer facing a potential tax assessment. 

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.

Webcast: Revisions to the factor-based enterprise tax system

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 professional Ken Leong examines 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.

Webcast: Preparing for changes to the taxation of online platforms

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 professional and Nicole Baxter discusses 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 webcast series committed to communicating the latest Japanese tax developments and their potential impact on foreign multinational companies operating in Japan.

Webcast:2024 tax reform series-Introduction

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 professional, Brian Douglas, discusses 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.
 

Webcast: Key insights into the qualified invoice system

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, Nicole Baxter, a senior manager in Deloitte Japan’s Indirect Tax group, discusses 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/webcast 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/webcast offers valuable insights into these tax developments, ensuring businesses stay informed about the evolving Japanese indirect tax landscape.

The Japan Perspective is a webcast series committed to communicating the latest Japanese tax developments and their potential impact on foreign multinational companies operating in Japan.

Are you ready for the new Electronic Record Retention Law?

Amendments to Japan’s Electronic Record Retention Law (ERRL) making the digital storage (to prescribed standards) of electronic transaction records compulsory as from 1 January 2024 have implications for all businesses operating in Japan.

In this episode of The Japan Perspective, David Bickle, partner in Deloitte Japan’s Business Tax Services team, discusses the updates to the ERRL and explains what the changes mean in practice. He emphasizes the importance of integrity and readability in stored data, and the risks of noncompliance. Taxpayers are advised to understand which documents fall within the ERRL definition of electronic transaction record and how these documents are stored in their current systems, to identify and remediate any gaps to ensure compliance before the deadline.

The Japan Perspective is a webcast series committed to communicating the latest Japanese tax developments and their potential impact on foreign multinational companies operating in Japan.

Inbound Tax & Legal The Japan Perspective

Episode : Pillar Two—Mechanisms and effect on inbound businesses

The OECD’s Pillar Two imposes a global minimum tax, and its recent implementation in Japan will impact large foreign multinational companies in Japan in different ways depending on their global structure. In this episode of The Japan Perspective, Deloitte Tokyo’s tax professional, Brian Douglas, discusses the various mechanisms of Pillar Two and their impact on Inbound businesses’ tax considerations, as well as how to prepare for the implementation of the Income Inclusion Rule. They also discuss how businesses with subsidiaries in Japan can approach any potential future implementation of the other mechanisms of Pillar Two.
The Japan Perspective is a webcast series committed to communicating the latest Japanese tax developments and the potential impact on foreign multinational companies operating in Japan.

Dbriefs podcast: https://www.deloitte.com/global/en/services/legal/perspectives/dbriefs-podcasts.html

HR series: Company Provided Housing Scheme in Japan

December. 7th. 2021　

Company provided housing, if structured properly can provide tax benefits to employees. It is a popular employee benefit scheme that will help companies retain and attract the best talent in a competitive market. In following webcast, team will present the general conditions that should be met in structuring the company provided housing scheme and how Deloitte can help from a tax and legal perspective with the implementation of the plan or reviewing the existing programs.

Related Services

• Japan Tax & Legal Inbound Newsletter