Japan: Corporate and Tax Quarterly Update - July 2023
In this edition, our attention is directed towards the FY2023 Tax Reform Enforcement Order and its corresponding Enforcement Regulations, as well as the Guidelines pertaining to the recognition and preservation of human rights within responsible supply chains.
In terms of taxes, the Cabinet Order that partially modifies the Order for Implementation of the Income Tax Act and the Ministerial Order that partially modifies the Regulations for Implementation of the Income Tax Act for the 2023 Tax Reforms were released in a special additional publication (No. 25) of the Official Gazette on March 31, 2023.
In April 2023, the Ministry of Economy, Trade and Industry of Japan released a document called the "Reference Material on Practical Approaches Enabling Business Enterprises to Respect Human Rights in Responsible Supply Chains". This document gives detailed explanations and examples of things that companies can do to respect human rights, such as creating a policy on human rights and looking for and evaluating negative effects on human rights.
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Masahiro Inaba works as a member of the Corporate/Mergers & Acquisitions Practice Group in Tokyo for the Firm. His expertise lies in providing assistance to clients in various legal matters related to corporate law. Furthermore, he is an esteemed member of the Tokyo Bar Association.
Masao Katsuyama serves as a member of the Corporate / Mergers & Acquisitions Practice Group at the company in Tokyo. Previously, he was based in the Bangkok branch of the company for two years, starting from May 2012 until May 2014. During his time there, he provided invaluable support to numerous Japanese businesses looking to invest in Thailand and various other countries in Southeast Asia.
Ryutaro Oka has a wealth of experience in various industries such as finance, trade, energy, and manufacturing. Throughout his career, he has built and maintained strong relationships with clients. He often provides guidance on complicated international tax matters and collaborates extensively with colleagues from countries like the United States, United Kingdom, Netherlands, China, Singapore, and Thailand. Mr. Oka is a sought-after speaker on global tax concerns and has been invited to share his expertise on international taxation and cross-border private equity investments at events organized by the Association of Taxation Analysis and other organizations. Before joining the Firm in 2006, he held the position of tax director at Deloitte Touche Tohmatsu's Tokyo office, advising on international tax matters. Mr. Oka is proficient in the English language.
Akihiro Kawasaki works in the Tax & Transfer Pricing Group at the company's Tokyo office. He has gained valuable experience in various areas, such as handling HK IPOs, dealing with crypto currency matters, and managing tax audits. His expertise lies in providing tax consulting services that involve intricate concepts related to consolidation, reorganization, and also anti-CFC rules. Before joining the company, he spent 13 years working at a prominent Japanese tax consulting firm, which included a four-year stint in Shanghai.
Koji Oshima has a wealth of knowledge in global taxation and transfer pricing concerns. Before becoming a part of Baker McKenzie in 2008, he was employed at Deloitte Touche Tohmatsu.
Luke Tanner is a part of the Tax & Transfer Pricing team at the Tokyo office of Baker McKenzie. Before becoming a member of the firm, he gained experience at a prominent accounting firm in Japan and Australia, where his responsibilities included delivering tax and transfer pricing solutions for multinational companies.
Corey is a part of the Tax & Transfer Pricing Group at the Firm in Tokyo.
