J-GAAP and IFRS

Topics under discussion
Evaluation of J-GAAP
J-GAAP in the U.S.

"J-SOX"

On February 15, 2007, the Business Accounting Council finally released its report on the establishment.....

2007 Tax Reform Act 1~5
(Also includes update to 2006)

The main objective of the 2007 Tax Reform Act is to invigorate....

1. Related to the Company Act / Revise tax rate both National and Local tax

The Company Act formalizes the procedures required by corporations.....
Although both National and Local tax rate have had changed....

2. Taxation on Financial, Securities & Housing

1. Taxation of stocks
2. Housing Loan Tax Credits
3. Gain and Loss Statements for each Partner
4. Requirements of Information Return and Withholding Tax on....

3. Family Corporations surtax
& Directors' Compensation

1. Family Corporations surtax
2. Directors' Compensation -Fixed monthly payment-
3. Late charges to directors' compensation
4. Change of directors

4. Depreciation

1. Abolishment of salvage value and limit on depreciable amount....
2. Revision of depreciation rates used for calculating declining balance method....
3. Evaluation method of depreciable assets for property (depreciable assets) taxes....

5. Lease Transactions

1. Classification of lease transactions....
2. Various tax treatments for finance lease without transfer of title....

Payroll Update

1. Health Insurance
2. Pension Insurance
3. Worker's compensation insurance
4. Employment Insurance
5. National Pension
6. Equal Employment Opportunity Law
7. International Social Security Agreements

Establishment of Yamamoto Social Insurance and Consultant Office

Effective April 1, 2007, Yoko Yamamoto, an experienced social insurance and labor consultant, has moved her office within Okamoto & Company....

Preparation of English Annual Reports

In an environment where foreign investment into Japan continues to grow,....

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