Development and commercialization of innovative products/services — including smart technologies — have recently been accelerating rapidly in the healthcare industry. One example is the growing use of AI/machine learning technologies in medical devices that perform diagnosis and/or testing. Further, many software applications and wearable devices are being launched that enable ordinary consumers to collect health-related data, etc.
In this issue, we focus on the FY2023 Tax Reform Enforcement Order and Enforcement Regulations and the Guidelines on Respecting Human Rights in Responsible Supply Chains.
On the tax side, the Cabinet Order Partially Amending the Order for Enforcement of the Income Tax Act and the Ministerial Order Partially Amending the Ordinance for Enforcement of the Income Tax Act in relation to the 2023 Tax Reforms were published in a special extra (No. 25) of the Official Gazette dated 31 March 2023.
Baker McKenzie’s Sanctions Blog published the alert titled Japan introduces further sanctions against Russia on 30 May 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 23 May 2023, the Japanese government announced an amendment of the export control regulations on the additional semiconductor related items, which will go into effect on 23 July 2023.
On 30 March 2023, the Japanese Diet passed the Amendment Act of the Customs Tariff Act, etc. Most of the provisions of the Amendment Act came into force on 1 April 2023.
Our Asia Pacific Employment & Compensation team is pleased to share our quarterly update, which highlights key employment law changes across the Asia Pacific region in the first quarter of 2023.
On 12 May 2023, the “Act on Promotion of a Smooth Transition to a Decarbonized Growth-Oriented Economic Structure” was passed and enacted by an ordinary session of the Diet. The Act will take effect within three months from the date of its promulgation.
Baker McKenzie’s Asia Pacific Employers’ Forum took place in Singapore on Thursday, 27 April 2023. You can access a number of related resources relating to employment issues and trends.
On 31 January 2023, the Amendment to the Cabinet Office Order on Disclosure of Corporate Affairs was promulgated and came into force together with its related guidelines. As a result of this amendment, it has become a requirement to include a new section in the Securities Registration Statement (Form 7 or Form 7-5) and Annual Securities Report (Form 8 or Form 8-2) reporting on sustainability-related initiatives and on other matters.
Baker McKenzie’s Sanctions Blog published the alert titled Sanctions Enforcement Around the G7, The Japanese Perspective on 20 April 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.