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Japan: Guidance on “payments economically equivalent to interest” for purposes of earnings stripping rules

Guidance from Japanese Financial Services Agency, in response to inquiry from National Tax Agency

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June 26, 2025

The Japanese Financial Services Agency, in response to an inquiry from the National Tax Agency, released a document summarizing the meaning of “payments economically equivalent to interest”—a term used in the Japanese earnings stripping rules (also referred to as interest deductibility limitation rules).

Read a June 2025 report prepared by the KPMG member firm in Japan

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