Japan
Overview of CbC reporting requirements
Japan has fully implemented the BEPS Action 13 (CbC reporting) minimum standard and meets all of the terms of references.
First reporting fiscal year: Commencing on or after 1 April 2016. Japan also allowed MNE Groups to file a CbC report on a voluntary basis, for reporting fiscal years commencing between 1 January 2016 and 31 March 2016.
Consolidated group revenue threshold: JPY 100 billion
Filing deadline: 12 months following the end of the reporting fiscal year
Local filing required: Yes. Transitional relief from local filing requirements applied to the fiscal year 1 April 2016 to 31 March 2017, except for the case where local filing arose as a result of a Systemic Failure by another jurisdiction.
The domestic legal and administrative framework
Japan confirms that its rules have not changed and continue to be applied effectively. Japan continues to meet all terms of reference.