１. Accounting (Source: “Keieizaimu Magazine”)
Revised Certified Public Accountants Law was submitted to the Diet on April 1st for the foundation of corporate financial accountants[*]. In conjunction with this, Japanese Institute of Certified Public Accountants (JICPA) released “the questionnaire survey on in-house accounting professionals (interim report)” on March 29th. Surveyed three groups are 586 listed companies (about 16% of the total), 308 in-house accountants and 1588 accountants who belong to audit firms. According to this survey, about 70% of listed companies answered “in-house accounting professionals (assuming certificated public accountants and CPA exam passers) are not necessary”. Also 76% of them currently do not think of hiring accounting professionals. In addition, there are some concerns over hiring new candidates such as “the high possibility of quitting and changing a job (54%)”, “disagreement on salaries (50%)” and “difficulties on evaluating specialty of exam passers (40%)”.
[*] This proposal was rejected on April 21st
２. Taxation (Source: Magazine ”T&A master No399”)
When a company incorporated its subsidiary (“specified foreign subsidiary”, SFS) in tax havens, retained earnings of the subsidiary are included in the taxable income of the parent company under Japanese Anti-Tax Haven Rules.
Recently SFS tends to incorporate a “Regional Headquarters Company (RHQ)” for the purpose of making decision on management and policies of SFS.
Japanese Anti-Tax haven Rule does not apply if a RHQ carries out its businesses as formulating and instructing Controlled Company’s business policy and management of business operation and also plays an integral part of SFS’s business practice.
３. This Week’s Words of Wisdom (Source: “Inspiring Quotes”, Edited & Supervised by Shintaro Ishihara)
“A founder always appears in turbulent times. Superficial matters such as an organization and a structure are ignored and one’s power and charm mean a lot. Therefore, the more troubled times get, the clearer an image of a person becomes. Whether good or bad, an independent and unrestrained person with extremely strong character emerges one after another.” (Hajime Ito)
Responsiveness of the government or Tokyo Electric Power Co (TEPCO) to nuclear power plants reveals one’s real personality. Minister of Economy, Trade and Industry like a senior military officer who only commanded but did not go to battlefields in the Pacific War, Chief Cabinet Secretary who works in various fields, the TEPCO president who is a mere figurehead, and Ichiro Ozawa who is in political strife even now…
This quote is exactly the words of wisdom.