TAXAND is a global network of leading tax advisors from independent member firms in more than 40 countries. Our tax professionals—more than 300 tax partners and 2,000 tax advisors—grasp both the fine points of tax and the broader strategic implications, helping you mitigate risk, manage your tax burden and drive the performance of your business.
We're passionate about tax. We collaborate and share knowledge, capitalising on our collective expertise to provide you with high quality, tailored advice that helps relieve the pressures associated with making complex tax decisions.
We're also independent—ensuring that you adhere both to best practice and to tax law and that we remain free from time-consuming audit-based conflict checks. This, coupled with the compact structure of our member firms, enables us to deliver practical advice, responsively.
Here Eiki Kawakami of Kojima Law Offices takes a look at recent developments in Japan and in particular the Financial Service Agency's tax reform requests for FY 2009 and the new provisions relating to permanent establishments.
1. FSA's Tax Reform Requests for FY 2009
In the attached Tax Edge newsletter BMR Advisors summarise recent developments in the Direct and Indirect Tax environments, focusing on both case law and government notifications and circulars.
Your TAXAND contacts for further queries are:
Mukesh Butani (New Delhi)
T. +91 11 3081 5010
E. mukesh.butani@bmradvisors.com
Bobby Parikh (Mumbai)
T. +91 22 3021 7010
E. bobby.parikh@bmradvisors.com
Corporations have recently been given the choice of gaining refundable credits by giving up bonus depreciation. In general, Section 308(1)(a) of the Housing and Economy Recovery Act amended Section 168(k) of the Internal Revenue Code by adding Section 168(k)(4), allowing corporations to elect not to claim the 50 percent additional first-year depreciation (bonus depreciation) for certain new property acquired after 31 March 2008, and placed in service generally before 1 January 2009.
TAXAND is a global network of tax advisory member firms. Each member firm is a separate and independent legal entity responsible for delivering client services.
