Baker McKenzie’s Sanctions Blog published the alert titled Japan introduces further sanctions against Russia on 15 February 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie’s Sanctions Blog published the alert titled Japan introduces further sanctions against Russia on 30 January 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
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.
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.
On 16 December 2022, Japan announced its 2023 tax reform proposal, which contains a number of changes that may impact multinational companies doing business in Japan, including the introduction of Pillar Two legislation in Japanese domestic tax law.
Baker McKenzie’s Sanctions Blog published the alert titled G7 Sets Price Cap for Russian Oil at USD 60 Per Barrel on 9 December 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie was invited to serve as the global editor of the Chambers Advertising & Marketing 2022 Practice Guide which features 8 high-profile jurisdictions and provides the latest legal information on the impact of the COVID-19 pandemic, advertising claims and clinical studies, comparative advertising, social/digital media, influencer campaigns, consumer promotions, sports betting/gambling, and cryptocurrency and non-fungible tokens.
Amidst the increased focus globally on respecting and protecting human rights, in a recent seminar organized in Thailand, the special advisor to the Prime Minister of Japan responsible for international human rights matters announced the adoption of the Guidelines on Respect for Human Rights in Responsible Supply Chains by the Government of Japan.
Baker McKenzie’s Sanctions Blog published the alert titled Japan introduces further sanctions against Russia and Belarus on 14 October 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 13 June 2022, the Amendment of the Telecommunications Business Act was enacted. The Amendment includes new regulations for the use of personally identifiable information and other information related to individuals, including cookies. Telecommunication service providers subject to the Amendment will be required to take measures based on the relevant ministerial orders to be enacted by the Ministry of Internal Affairs and Communications in the near future.