Japan Tax Reform
EY Japan Tax offers news alert and webcasts detailing all of the latest developments on tax reform in Japan.
2024 Japan tax reform
The 2024 Japan tax reform outline was released on 14 December 2023.
The team
Overview of the major amendments and revisions
Corporate taxation
- Tax incentives encouraging wage increases
- Creation of tax credit to promote domestic production in strategic industries
- Creation of the “Innovation box” regime
- Revision of R&D tax rules
- Revision of size-based enterprise taxation
- Other
International taxation
- Revision of top-up tax assumed as corporate tax
- Revision of qualified capital contributions in kind
- Revision of Japanese Controlled Foreign Company (“J-CFC”) rules
- Establishment of reporting system for the automatic exchange of information requests related to crypto asset transactions of non-residents
- Other
Individual income taxation
- One-time fixed amount reduction of income tax and inhabitant tax
- Revision of dependent deduction (2025 tax reform)
- Revision of housing-related tax credit for households with children
- Revision of stock option rules
- Expansion of angel investor tax rules
Consumption taxation
- Introduction of platform taxation
- Revision of tax-exempt enterprise system used by foreign businesses
- Revision of simplified taxation rules
- Revision of consumption tax exemption rules for foreign tourists (2025 tax reform)
- Other
Asset taxation
- Fixed asset tax
- Business succession tax rules
Tax administration
- Additions to heavy additional taxes
- Secondary tax liability on representatives of companies committing fraud to avoid taxes
- Other
*Please note that the contents of this newsletter may be partially revised, deleted or added to in response to future Diet deliberations on the reform bill.
Newsletters and alerts in English
- The Impact of the 2024 Japan Tax Reforms for Inbound Businesses: Detailed Review(Japan tax newsletter, 27 March 2024)
- The Impact of the 2024 Japan Tax Reforms for Inbound Businesses (Japan tax alerts 27, December 2023)
Related Webcast (English)
Please refer to the link below for previous Japan Tax Reform.
Doing business in Japan
An overview of the key issues from a Tax, Legal, Bookkeeping, and practical perspective