Japan: 2024 tax reform passed by Parliament

The Japanese Parliament passed the 2024 tax reform bills.

The Japanese Parliament passed the 2024 tax reform bills.

The Japanese Parliament (National Diet) on 28 March 2024 passed the 2024 tax reform bills, which include provisions relating to:

  • Corporate tax
    • Tax credits for promotion of salary increases
    • Restriction on eligible companies for special tax measures
    • Special measures for promoting domestic production in strategic fields
    • Innovation box tax system
    • Taxation of reorganizations (tax-qualified contribution in-kind)
    • Entertainment expenses
    • Sized-based business tax
  • International tax
    • Income inclusion rule (IIR)
    • Controlled foreign company (CFC) regime
    • Earnings stripping rules
    • Reporting system for automatic exchange of information on cryptoassets transactions related to nonresidents
  • Consumption tax
    • Platform tax
    • Special measures for consumption tax exemption system related to foreign business operators
  • Individual tax (stock option tax system)

Read a March 2024 report prepared by the KPMG member firm in Japan


The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.