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.
Autonomous or 'self-driving' cars are widely expected to offer society a number of benefits. Most noteworthy is that they will be involved in significantly fewer accidents and be safer than human piloted vehicles.
And while a decline in roadway crashes is undoubtedly good news for society, it's bad news for automakers and repair service businesses, who will face a significant hit to their bottom lines as the market for their lucrative collision parts and services business shrinks dramatically—and sooner than they may think.
On February 24, 2016, the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA) was signed into law. The primary goal of the TFTEA is to encourage international trade through the simplification of U.S. trade regulations. In particular, duty drawback (drawback), a long-standing yet complex trade mechanism allowing for duty refunds on goods imported to the U.S. and subsequently exported, will create opportunities for broader qualification through the easing of product substitution rules, a simplified filing time frame, and modernized record-keeping requirements.
The global regulatory landscape surrounding anti money laundering (AML), trade sanctions, and anti-bribery and corruption is complex and dynamic. Staying informed about the applicable and constantly changing laws and regulations can be a challenging task for financial institutions, especially those with an expansive global footprint.
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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