In this issue, we focus on the 2023 Japan tax reform proposal and corporate legal considerations for spin-offs in Japan.

On December 16, 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. This update provides a brief overview of the relevant items that would likely have the largest impact on such companies. In addition, this update also provides a brief overview of the recent developments of spin-off rules and corporate legal considerations and benefits of using spin-offs in Japan.

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