Global

Details

  • Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 12/9/2013

Japan - Early repeal of special reconstruction corporation tax (10%) 

December 9: The Japanese government last week announced an economic stimulus package that included a statement that special reconstruction corporation tax (i.e., a 10% additional tax imposed on corporation tax liability) would be repealed a year earlier than as originally schedule.

While details of the planned early repeal of the special reconstruction corporation tax have not been announced, the expectation is that the applicable periods during which the special reconstruction corporation tax would be imposed will be shortened (reduced) and that the effective corporate tax rate similarly would be reduced to reflect this repeal.


Read a December 2013 report [PDF 208 KB] (in both Japanese and English) prepared by the KPMG member firm in Japan: Reduction in Effective Corporate Tax Rate (Abolition of Special Reconstruction Corporate Tax)




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