Proposals include introduction of undertaxed profits rule (UTPR) and qualified domestic minimum top-up tax (QDMTT)
The ruling governing coalition on December 20, 2024, agreed to an outline of tax reform proposals for 2025.
The outline is only indicative of the agreement, and the details of some contemplated changes are not certain. In addition, the final tax reform could differ from the outline depending on the outcome of the legislative process.
The tax proposals in the tax reform outline include:
Read a December 2024 report prepared by the KPMG member firm in Japan