Japan’s National Tax Agency releases 2008 APA report
March 16, 2009
Japan remains one of the most challenging tax jurisdictions, with transfer pricing enforcement being a focal point of the Japanese tax authorities. Both foreign and Japanese multinationals face increasing scrutiny and a heightened risk of transfer pricing audits and potential adjustments, explain Karl Gruendel and Rolf Heussner of Ernst & Young Shinnihon Tax.
During the 2007 tax year (the period from July 2007 to June 2008), Japan’s tax authorities issued 133 transfer pricing related assessments, representing an increase of 32% over the previous tax year, with total adjustments reaching ¥170 billion ($1.7 billion), an increase of 61%.
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