By virtue of the 2020 tax reform, the Consolidated Tax Return Filing System was revised fundamentally to the Japanese Group Relief System, which will be applicable for fiscal years beginning on or after 1 April 2022.
On 3 June 2020, the National Tax Agency released the first edition of the Q&A (Japanese only, consisting of 43 questions) about the tax treatments, etc. of the Japanese Group Relief System under the reformed tax laws which were promulgated on 31 March 2020.
On 21 August 2020, the National Tax Agency has released the second edition of the Q&A (Japanese only, consisting of 65 questions) about the Japanese Group Relief System, which reflects the tax treatments, etc. prescribed by the cabinet orders of corporation tax which were promulgated on 26 June 2020 and the ministerial ordinances of corporation tax which were promulgated on 30 June 2020.
We have set out in this e-Tax News details of the second edition of the Q&A about the Japanese Group Relief System.
Japanese Text
KPMG Japan e-Tax News No.206
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