Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
On 12 December 2019, the Japanese government announced tax changes for 2020 including a provision that will affect internationally mobile employees.
While not coming into effect for a number years until 1 January 2024, overseas family members will not be eligible to claim as tax dependents for the purposes of an income tax deduction.
Effective 1 January 2024, family members aged between 30 and 69 living outside Japan who are tax non-resident in Japan cannot be claimed as tax dependents for income deduction purposes unless they meet one of the following conditions:
- Have become a tax non-resident of Japan to pursue studies outside Japan
- Suffers from a disability
- Receive JPY 380,000 or more of financial support per year from the taxpayer towards their living and education expenses.
In addition, in order to substantiate a claim for the above, the tax authorities have advised following documents must be attached to an individual’s tax return substantiate the requirements.
- A copy of student visa issued by the foreign government to evidence condition 1 above.
- A copy of international wiring documents to evidence condition 3 above.
The changes will mean a loss of a deduction currently worth JPY380,000 per year (approximately USD3,465). No details have been released yet as to how to evidence the second point as being met, or circumstances where a foreign visa may not be required. Further guidance on this change is expected in due course.
For businesses with internationally mobile employees working in Japan or overseas who may be impacted, certain employees may see their tax burden increase in addition to further compliance administration to be compliant. For larger tax equalised assignee populations, the tax cost borne by the company may similarly see costs increase though there is plenty of time to plan and identify which employees may be affected.
Get in touch
If you would like to discuss the full implications of these changes, please contact Tosh Kamii, Grant Thornton Japan or your local Grant Thornton office.
Read more insights on tax changes affecting internationally mobile employees.