The impact of inflation, the imperative to domestically produce goods strategic to economic prosperity and IP, and curtailing of tax abuses are key challenges addressed by the 2024 tax reform, enacted into law in March 2024. These reforms will have a significant impact on some Japanese subsidiaries of European multinational companies and will also affect European companies supplying goods and services in Japan. In addition, a specific new regime will apply to those selling through (or operating) an online platform. What should your organisation be thinking about? We’ll discuss:

• Impact on the local tax regime and effective tax rate 
  
• Fundamental changes to JCT collection for non-residents selling via online platform operators 
• Tax incentives aimed at promoting production of strategic goods and encouraging IP development in Japan 
• Revisions giving consumers greater purchasing power by lowering their tax burden and incentivising companies to increase wages 
• Status of Japan’s implementation of Pillar 1 and 2

Join us to learn more about the key provision in the 2024 Japanese Tax Reform.