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This article applies to:

  • Product: ONESOURCE Statutory Reporting
  • Subject: Templates

Version 16 - November 2024 (CUD release)

Content update

This update verifies that the Japan Corporate Template includes Illustrative Model Content with legislative coverage for year-end reporting for March 2025.
  • Financial period type: 12-Months (annual)
  • Target industry type: Manufacturing, Services, and Generic (excluding Financial Services)

Legislative updates

Amendment on Corporate Tax classification
法人税等の計上区分に関する改正
  • Applies when a company performs market value evaluations of assets/liabilities and uses hedge accounting.
  • Relevant for unrecognized actuarial gains and losses in pension plans.
  • Effective from the fiscal year starting April 1, 2024, for both consolidated and non-consolidated reports.
  • No changes to the template currently, and no updates expected by March fiscal year 2025.
  • The regulation affects the Statement of Comprehensive Income, which is not mandatory in consolidated reports.
Amendment on Tax Effects of subsidiary share sales
グループ法人税制が適用される場合の子会社株式等の売却に係る税効果に関する改正
  • Relevant for clients with gains from intercompany sales of subsidiary or affiliate shares.
  • Effective from the fiscal year starting April 1, 2024, for both consolidated and non-consolidated reports.
  • No changes to the template currently, and no updates expected by March fiscal year 2025.
  • This regulation is rare and not applicable to the template.
Global Minimum Taxation (Pillar 2 BEPS 2.0)
グローバル・ミニマム課税制度に係る法人税等（当期税金）の会計処理及び開示
  • Introduces a global minimum effective tax rate of 15%.
  • Applies to the fiscal year starting April 1, 2024, for consolidated fiscal year-end and business reports.
  • No changes needed to the Japan template.
  • BEPS 2.0 doesn't apply to Japan clients since the template is for intermediate parent companies in Japan, not the ultimate parent company.

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