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In Tax

Japan: Recent Developments in Japanese Tax Law

by 1 Min Read

Japan’s 2023 tax reform package announced in December 2022 and submitted to the Diet in February 2023 includes various measures aimed at strengthening the Japanese start-up ecosystem and reorganizing the research and development taxation system. In an article published in Tax Notes International, Luke Tanner provides an overview of the recent tax developments in Japan, including the tax reform package and other legislation, the OECD’s two-pillar proposal, changes to consumption tax, and the transfer pricing regime.

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In Trade and Foreign Investment

Japan to Strengthen its Export Control Regulations to Control Various Semiconductor Manufacturing Equipment

by 2 Mins Read

On 31 March 2023, the Japanese Ministry of Economy, Trade and Industry initiated a public comment procedure for the Draft Amendment to Ministerial Ordinance and the Draft Amendment to Circular that is intended to impose new export control requirements on certain sensitive semiconductor manufacturing equipment from Japan. The public comment period is from 31 March 2023 to 29 April 2023. Anyone can submit a comment through either (i) the Japanese government’s website, (ii) email, or (iii) mail.

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Japan: Data monetization and data trading markets

by and 4 Mins Read

This second video is part of a series about sustainable business models for smart cities. In this second part, Baker McKenzie’s Yaeko Hodaka and Tsugihiro Okada together with specialists Mr. Yasunori Mochizuki (NEC Fellow), Mr. Akihito Karasawa, (Manager of the Digital Planning Section, Smart City Promotion Department, Digital Strategy & Promotion Bureau of Sapporo City) and Mr. Tadashi Kaji (Senior Chief Researcher of Hitachi, Ltd.’s Research and Development Group) discuss legal issues that need to be taken into account.

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Japan: New Cookie Regulations start June 2023

by , and 5 Mins Read

Japan’s amended regulations on cookie information will start on 16 June 2023. The amended regulations now capture an even wider range of businesses, such as SNS platforms, various content sharing services, and certain online search tool businesses. It is important to consider whether your business is within the scope of the amended regulations and to take appropriate measures to ensure compliance, such as updating cookie policies or adding appropriate pop-up notices.

In Employment

Vietnam: Indo-Pacific Economic Framework for Prosperity

by and 7 Mins Read

In May 2022, the Indo-Pacific Economic Framework for Prosperity (IPEF) was launched between Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the US and Vietnam. On account of its specified focus on labor standards and issues, IPEF is likely to have an ongoing impact on labor regulations and trends among partner countries, including Vietnam.

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Japan and South Africa: 2023 shifting trends in international tax

by 4 Mins Read

The implementation of Pillar 2, a principal rule of the Organization of Economic Cooperation and Development’s 15% global minimum tax proposal, has been debated for several years. Recently, Japan took a firm step towards affirming its adoption of Pillar 2 when the country outlined its 2023 Tax Reform Package, which included the implementation of the 15% global minimum tax. The Package also introduced an Income Inclusion Rule that in broad terms, aligns with the Global Anti-Base Erosion (GloBE) Model Rules, expected to become effective in 2024. This affirmative step by Japan puts some pressure on other states that have committed to implementing the GloBE rules, particularly in the European Union (EU), the United States (US) and South Africa.

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