Jnet is the bilingual newsletter of KPMG's U.S. Japanese Practice. Published since 1997, Jnet is issued quarterly to update you on audit, accounting, tax, and other business issues relevant to Japanese companies operating in the United States.
As businesses reach out across the globe seeking new markets, their tax policies and the amount of tax they pay are coming under increasing government, media, shareholder, and public scrutiny. With no signs of abating, the call for greater international tax transparency—spearheaded by an Organisation for Economic Co-operation and Development (OECD)-coordinated initiative surrounding base erosion and profit shifting (BEPS)—is being echoed around the globe. As a result, the debate is heating up on topics of corporate social responsibility, tax governance, enhanced transparency with tax authorities, and "fair share" tax accountability.
Conducting cross-border investigations is no simple endeavor. Add the complexities of legal and cultural differences, and you have arguably one of the biggest challenges facing global corporations today. There are obstacles at every step of a cross-border investigation, including initially receiving a claim or allegation; complying with foreign data privacy laws; using the appropriate staff and resources; respecting diverse employee rights; and remediating across borders. Understanding where the pitfalls are along the way and how to navigate them can help you avoid critical missteps.
In this section, we provide brief updates on regulatory developments in auditing and accounting that may impact Japanese companies in the United States.
In this section of Jnet, we provide brief updates on legislative, judicial, and administrative developments in tax that may impact Japanese companies operating in the United States.
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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.