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Requirement to Report Assets/Liabilities

Requirement to Report Assets/Liabilities

Under the 2015 tax reform, reporting requirements for assets/liabilities for individuals whose income exceeds JPY20 million were amended.

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The new rules will be applied to individual income tax returns for 2015 income.

We have set out in this newsletter the main points of the new reporting requirements.

Contents

  1. Reporting Requirement for Assets/Liabilities
  2. Special Measures for Additional Taxes

Japan TAX Newsletter

© 2021 KPMG AZSA LLC, a limited liability audit corporation incorporated under the Japanese Certified Public Accountants Law and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. © 2021 KPMG Tax Corporation, a tax corporation incorporated under the Japanese CPTA Law and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.


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