Requirement to Report Assets/Liabilities | KPMG | JP

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

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