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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.


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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

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