Share with your friends

Japan: CRS changes included in outline of tax reform proposals

Japan: CRS changes included in outline of tax reform

The ruling coalition in December 2019 agreed to an outline of tax reform proposals relating to corporate, international tax, consumption tax, and the taxation of individuals. There were also proposals concerning the common reporting standard (CRS) regime.


Related content

Details of the measures are expected when the actual bills are introduced.

Some of the proposed CRS amendments could address changes relating to:

  • The definition of excluded accounts, account holders, and entities
  • Review procedures for changes in circumstances
  • Requirements to use reasonable efforts to obtain the U.S. tax identification number (TIN) and date of birth with respect to pre-existing accounts
  • Anti-avoidance rules

Read a January 2020 report [PDF 65 KB] 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 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal