#Japan #Tokyo #GTM Tax Corporation #Global Minimum Tax #OECD

GTM Tax Corporation's Response to the Global Minimum Tax

GTM Tax Corporation is setting the stage for the implementation of the Global Minimum Tax regime, which is being pioneered by the OECD. Slated to commence in 2025, GTM's support services will assist businesses navigating the complexities of this new landscape.

Having a history of providing robust tax support to listed companies and multinational corporations, GTM has been proactive in addressing the ever-evolving international tax environment. Their previous engagements have focused on BEPS compliance, transfer pricing regulations, and consolidated tax rules for overseas subsidiaries. Building upon this foundation, GTM aims to enhance its support framework in response to the impending regulatory changes, ensuring that it remains a reliable partner for its clients.

Understanding the Global Minimum Tax

The Global Minimum Tax is part of the OECD/G20 BEPS 2.0 project and is anticipated to be implemented progressively across countries starting in 2024. This initiative mandates that multinational companies maintain a minimum effective tax rate of 15%. The implications for Japanese businesses are substantial, underscoring the urgency for firms to prepare.

GTM has consistently adhered to its guiding principle of "growing together with our clients". Nevertheless, compliance with this new regime necessitates deeper knowledge of international tax and accounting practices. Therefore, GTM is reinforcing its system, which includes collaborating with external experts to provide comprehensive support.

In addition, GTM is planning to organize seminars aimed at enhancing understanding of this new regulation among company representatives. Details regarding these seminars will be provided separately to ensure that businesses are well-equipped to adjust to these significant changes.

Core Support Services

GTM's primary offerings in light of the Global Minimum Tax include:

• - An overview of the Global Minimum Tax system and identifying subject companies.
• - Assistance with pre-consultation for ambiguous issues with national tax authorities.
• - Verification of consistency with other tax regulations, such as those concerning tax havens.

Statement from the Lead Tax Accountant

"Since our establishment, building trust with our clients has been our highest priority. The Global Minimum Tax represents a complex challenge, with significant impacts related to cross-border coordination and governance among countries. By partnering with international tax experts, we aim to offer solid and precise support that facilitates our clients' healthy international expansion," stated Mr. Yoshima Takeuchi, a tax accountant at GTM.

Profile of Yoshima Takeuchi

Yoshima Takeuchi previously worked at the National Tax Agency where he was responsible for treaty negotiations and guiding transfer pricing investigations. He has served as a long-term dispatched officer to Hong Kong and worked as a JICA expert at the Malaysian National Tax Agency. His extensive experience includes roles as a professor specializing in international taxation at the National Tax College and as an official for various capacities at the National Tax Bureau, contributing to international tax effectiveness.

Contact Information
Email: [email protected]
Phone: 03-3242-0301

About GTM Tax Corporation

• - Company Name: GTM Tax Corporation
• - Head Office: 2-1-4 Yaesu, Chuo-ku, Tokyo, 104-0028, Japan, Tokyo Midtown Yaesu, Central Square 4F
• - Managing Partner: Ryohei Asahi
• - Services Provided: Comprehensive tax services for individuals and corporations
• - Established: October 2014
• - Website: GTM Tax Corporation