The Japanese government on Friday approved changes to its global minimum tax system to implement the OECD’s recently revised agreement.
Japan’s Cabinet gave nod to amendments that will exempt American multinational groups from key rules of the global minimum tax framework with effect from fiscal years beginning on or after Jan. 1, 2026, according to an official statement from the country’s finance ministry.
- The revisions were approved in line with an Organization for Economic Cooperation and Development agreement that permits the “coexistence of global minimum taxation with the systems of countries that meet certain requirements, including the United States, which ...